Britain’s unemployment rate fell to a five-year low in the first quarter as the economy created work at a record pace, evidence the recovery is sustaining momentum.
Bank of England Governor Mervyn King will tomorrow try to justify why officials stopped expanding stimulus even as the outlook for Europe’s economy darkens.
Mark Carney has given himself one month to decide on what to do about the hottest topic in the U.K. economy: the housing boom.
Bank of England Governor Mervyn King may have to embark on a new round of bond purchases as Britain’s rebound from the worst recession since World War II fades.
U.K. services grew at the slowest pace in seven months in January as new business cooled and wet weather soaked the country.
Britain’s inflation rate fell to the lowest in 4 1/2 years in March as gasoline and clothing prices pushed it further below the Bank of England’s target.
The last time U.K. mortgage approvals were this high, lender Northern Rock Plc hadn’t yet collapsed, Gordon Brown was prime minister, and U.S. investment banks Bear Stearns Cos. and Lehman Brothers Holdings Inc. were still in business.
"Strong growth in Africa, South Africa and Europe was balanced by slower momentum in North America."
- Alan Clarke on Jul 23, 2014
BNP’s Clarke Says BOE May Act This Week: Audio