Strong June Growth in UK Economy Driven by Extra Bank Holiday Despite economic uncertainties and global challenges, the United Kingdom’s economy surprised many by achieving significant growth of 0.5% in June 2023. This positive outcome was unexpected, especially considering the slight contraction of 0.1% in May 2023. Several factors, including an additional national bank holiday … Read more
Bank of England Raises Interest Rates to 5.25% The Bank of England has decided to increase its main interest rate by 0.25 percentage points, making it 5.25%. This move was agreed upon by 6 out of 9 members of the Bank’s Monetary Policy Committee (MPC). The goal is to manage the balance between keeping prices … Read more
Bank of England: The Significance of the Base Rate Rising… Again As of the 3rd August 2023, the Bank of England base rate increased to 5.25%. This is the fourteenth time in a row that they have raised interest rates and the highest it has been for 15 years. In this article, we will look … Read more