United Kingdom

Bank of England holds rates at 5 percent, boosting pound to over two-year highs

The Committee unanimously cut U.K. government bond purchases by $93.77 billion, reducing the total to $523.58 billion

U.K. housing market shifts positively as surveyors report first price balance in nearly two years

Expected sales for the next three months reached their highest level since January 2020, before the COVID-19 pandemic 

Amazon plans over $10 billion investment in U.K. data centers, supporting 14,000 jobs annually

Amazon has made direct investments of more than £56 billion in the U.K. between 2010 and 2022

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

ChatGPT’s weekly users exceed 200 million, says OpenAI

The startup also revealed that 92 percent of Fortune 500 companies are using its products

BoE rate cut spurs upturn in U.K. property market activity, sale inquiries up 19 percent in August

Average five-year fixed mortgage rate is now 4.80 percent, which is still high compared with three years ago

U.S. inflation slows to 2.9 percent, lowest in over 3 years

Fed rate cut likely as inflation continues to decline

BoE faces pressure as U.K. inflation nudges higher to 2.2 percent in July on energy cost

The increase, although expected, was slightly smaller than the 2.3 percent rise anticipated by analysts

Foreign airlines pull China services as domestic airlines expand networks internationally

Foreign carriers operated only 60 percent of pre-pandemic flights to China last month

Optimism grows for U.K. markets as Bank of England slashes rates, boosts growth outlook

The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call

Key economic data releases and decisions this week: GDP, inflation, PMI and interest rates

This week, the U.S. Federal Reserve, the Bank of Japan and the Bank of England are holding monetary policy meetings

Bank of England rate cut bets rise as inflation steadies at 2 percent target

The Bank of England's interest reached a 16-year high of 5.25 percent in August 2023

Global gas demand forecast to grow 2.5 percent in 2024, driven by Asia: IEA

However, global demand growth is expected to fall below 2 percent year-over-year in the second half of 2024

China sees surge in foreign tourism with visa-free policies, diverse payment options

14.64 million foreign nationals entered China through various ports during the first six months of the year

World’s population to reach 10.3 billion by 2080 with uneven demographic shifts across regions: Report

Rapid population doubling projected in 9 developing countries by 2054 due to very high growth rates

U.K. GDP grows 0.4 percent in May 2024 on greater construction, service output

Service output was the largest contributor to the U.K.'s monthly GDP growth in May 2024

U.K. manufacturing activity grows in June, input cost inflation at 17-month high: PMI

Tight supply lines, higher import costs and freight issues also contributed to higher purchase prices

U.K. inflation reaches central bank’s 2 percent target: Will policymakers respond with rate cuts?

This marks the lowest annual increase in the consumer price index since mid-2021, in line with analysts' forecasts

China reclaims top spot with $196.5 billion in international tourism spending in 2023: Report

This reflects the continued recovery of the Asia and Pacific (APAC) region from the impacts of the COVID-19 pandemic

U.K. headline inflation falls to 2.3 percent in April, but core and services prices remain elevated

Services inflation eased only slightly to 5.9 percent from 6 percent, missing the 5.5 percent forecast

U.K. second largest foreign investor in Saudi Arabia with $16 billion in investment shares

Saudi minister highlights the Kingdom's status as the fastest-growing economy over the past six years

$3.7 billion Saudi investments set to boost North East England’s economy, generate 2,000 jobs: U.K. Official

An Education Task Force will be also established to promote cooperation in higher education

U.K.’s GDP growth to remain sluggish at 0.4 percent in 2024: OECD

Unemployment to steadily increase to 4.7 percent by 2025 as U.K. labor market cools

FDI into U.K.’s financial services sector declines 50 percent: Report

Asset management emerged as the sector attracting the largest sources of FDI