The United Kingdom’s overall inflation rate fell to 2% year-on-year in May, hitting the Bank of England’s target for the first time since July 2021, just ahead of the bank’s June meeting. ADVERTISEMENT This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts’ forecasts. On a monthly basis,...
Tag: bank of england
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UK begins rolling out banknotes with portrait of King Charles III
People have been queuing Wednesday outside the Bank of England‘s headquarters in London and at post offices around the United Kingdom to get their hands on the first UK banknotes featuring the portrait of King Charles III. The portrait of the king will appear on all four banknotes issued by the Bank of England —...
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UK unemployment rises more than expected as job market cools
The unemployment rate in Britain has risen by more than expected and wage growth has eased back once again in the latest sign that economic uncertainty is affecting the U.K. jobs market, although leaving the door open for an interest rate cut according to analysts. The Office for National Statistics (ONS) said the jobless rate...