UK Economy

Bank of England statistics reveal an increase in the amount of money saved by earners, while credit lending is below longer-term averages and mortgage approvals are falling in response to higher interest rates.

The UK economy shrunk in November according to the latest S&P Global PMI readings, however business expectations for the year ahead rebounded from a 30-month low.

UK government borrowing figures came in well below expectations on Tuesday, and this will further aid sentiment towards the British Pound say analysts.

GBP fell following some hotter-than-expected UK inflation data that suggested the Bank of England could not yet afford to quit its interest rate hiking cycle.

GBP was higher following reports UK wages came in stronger-than-expected in the UK's latest set of labour market statistics, but there are clear signs the market is cooling as the unemployment rate rose.

The British Pound held its Thursday gains against the Dollar, Euro and other major currencies following the release of UK GDP data on Friday that showed the UK economy shrunk 0.6% in September.

The fall in UK house prices has just begun, according to a new analysis.

Strong labour and wage data out of the UK suggests the Bank of England has little choice but to continue raising interest rates in order to stem demand and ultimately lower inflation.

The cost of the government's headline Energy Price Guarantee could become costless should wholesale gas prices keep falling, shows a new analysis from a well-known high-street bank.

The deficit remains sizeable thanks to the increased cost of energy imports, particularly gas.

The UK government's spending plans and financial market response are both well known by now but there is an important reality that may be going overlooked at HM Treasury and which could jeopardise more than just Downing Street's economic growth targets for the years ahead.

The UK government's energy price cap is the single most expensive outlay of Liz Truss' new administration, but its cost could come in a lot lower than markets had been anticipating as wholesale gas prices fall.

The UK government appeared to exacerbate losses for markets in London on Friday following a budget-like announcement from Chancellor Kwasi Kwarteng that has drawn much comment from economists, analysts and others.

"Right now though, those already on the property ladder are generally better off staying put rather than moving or re-mortgaging."

The UK government has announced "unprecedented" support for UK businesses as it limits the cost of fuel bills in a move that will underpin economic growth but materially raise the country's debt burden.

A sharp decline in UK retail spending suggests the UK consumer is withdrawing in the face of surging prices, tipping the UK economy into recession.

GBP was softer after it was reported headline UK CPI inflation was lower in August than in July, suggesting the peak in price rises might have now passed.

UK jobs data was on balance supportive for the Pound, with the currency rising against the Euro, Dollar and most other major currencies in the wake of the release.

The British Pound was soft at the start of a new week following the release of domestic GDP data that showed July's economic rebound was softer than expected.

"Coming in with a bang," says Holger Schmieding, Head of European Economics at Berenberg, addressing reports that incoming UK Prime Minister Liz Truss could make a major intervention in UK energy markets.