United Kingdom

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

U.K. retail sales slide to lowest since 2020 in April

Economists attributed the sharp decline to the earlier timing of the Easter holidays this year

World Bank secures $11 billion backing for new financial instruments to boost lending capacity

WBG's leveraging capability enables 6-8x multiplication of hybrid capital and guarantee platform funds over 10 years

Africa faces $277 billion annual climate adaptation funding shortfall, warns African Development Bank President

Adesina said the devastating African drought demands urgent, collective action to boost support and financing

U.K. inflation slows to 3.2 percent, sparking rate cut speculations

Investors lower expectations for the scale and timing of future rate cuts

IMF raises global growth forecast to 3.2 percent, lifts outlook for UAE, Saudi Arabia

The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January

U.K. unemployment rate hits 6-month high of 4.2 percent, exceeding expectations

The unemployment rate in the country stood at 3.9 percent in the three months to January