As the UK starts to emerge from the its Covid-19 lockdown, the Bank of England’s Monetary Policy Committee is expected to provide further assistance and support for the economy by ensuring maximum accommodation remains in place. Analysts expect the MPC to leave its main interest rate at 0.10pct while the policymakers expand the quantitative easing … Continued
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-17.2pctOverall orders for durable goods shrank for a second month in April but beat expectations of a decline of 19.1pct m/m. The March print was revised to 16.6pct versus the -15.3pct previously reported. The headline drop was the second largest since order tracking began in the early 1990s. Economists are estimating GDP plunged as much … Continued
Retail sales plummeted to a record monthly low in April as the effects of the Covid-19 lockdown were felt on the high street. The Office for National Statistics (ONS) said spending on food, fuel and clothing all fell significantly at the start of spring, whilst purchases over the internet spiked. Read more.
Headline inflation lowest in over three years Falling energy and fuel prices account for majority of slump Analysts expect UK inflation to approach zero over the summer Job losses to subdue wage inflation for the medium-term GBP drops further on lower-than-forecast CPI London, 20 May 2020 (LS NEWS) – The UK’s main rate of inflation … Continued