Britain risks facing “sluggish” growth for the next year or two and interest rates would need to be cut swiftly if action is needed, a Bank of England policymaker has warned.
Bank of England boss Mark Carney has said policymakers are mulling over the possibility of an interest rate cut, and stressed action would be “prompt” if the economy remains under pressure.
Brexit uncertainty ensured 2019 was another difficult year for the economy, as the UK flirted with recession after two EU withdrawal deadline extensions kept firms and households in limbo.
The Bank of England has held interest rates at 0.75% but kept the door firmly open to a cut if Brexit uncertainties and global growth fears do not let up.
The Bank of England is expected to keep interest rates unchanged on Thursday in its first meeting since Boris Johnson’s election victory, despite growth flat-lining in Britain’s Brexit-battered economy.
Britain’s economy has suffered its worst three months for more than a decade after official figures revealed output failed to grow once again in October.
Britain’s all-important services sector has slipped back into contraction as faltering consumer spending and wet weather saw the steepest drop in activity since March, according to a report.
Britain’s powerhouse services sector saw activity fall at a steeper pace in the three months to November as Brexit and political uncertainty wrought further havoc, according to a survey.
UK growth will remain anaemic for the next two years even if a Brexit deal is reached amid signs of an “entrenched” global downturn, a major international organisation has warned.
Britain’s manufacturers have been offered some respite as battered order books improved in November after a no-deal Brexit was avoided last month, according to a survey.
The Bank of England is set to keep interest rates on hold at 0.75% on Thursday, but downgrade Britain’s economic outlook as prolonged Brexit uncertainty takes its toll.
The Bank of England is set to keep interest rates on hold at 0.75% on Thursday, but downgrade Britain’s economic outlook as prolonged Brexit uncertainty takes its toll.
The Bank of England is set to keep interest rates on hold at 0.75% on Thursday, but downgrade Britain’s economic outlook as prolonged Brexit uncertainty takes its toll on growth.
Inverness pupils’ safety is being compromised with a lack of investment in school crossing patrollers to combat a rapidly-growing population - with more children walking next to busier roads, it has been claimed.
Whisky has grown its impact on the Scottish and UK economies by 10% in three years, new figures from the industry show.
The Business Growth Fund (BGF) has identified more than 210 small and medium-sizes enterprises (SMEs) around the north and north-east as “high potential” firms generating revenue of between £3 million and £150m a year.
Scottish Chambers of Commerce (SCC) president Tim Allan said the business network saw 2018 as a year to focus on growing Scotland’s economy, thanks to the absence of any elections or referenda this year.
British business leaders have warned that Brexit talks are too slow and could harm the economy.
Professional services giant EY has said its business in Scotland grew by 11% in the financial year to the end of June.
In recent weeks, I have had one or two questions relating to apples and potatoes and the common denominator is “internal browning”.
Survival Craft Inspectorate (SCI), a global provider of emergency marine evacuation systems, has selected a Swedish company to drive further growth in Scandinavia. Scanunit, a rapidly-expanding business, has agreed a partnership with SCI for sales and installation rights of Safelaunch lifeboat release and retrieval systems (LRRS), which comply with the latest Solas MSC.1/Circ 1392 guidelines.