KRGV.com

Tagged News

• Bank of England remains divided on stimulus

  May 22, 2013 4:11 AM

  LONDON (AP) The Bank of England's policymakers remain divided on whether to provide more stimulus to the flat-lining economy. The minutes to the Monetary Policy Committee's meeting in May shows all nine policymakers agreed to keep the base interest rate at 0.5 percent but they disagreed on pumping more money... more »

• Britain dodges recession after growing in Q1

  April 25, 2013 3:37 AM

  LONDON (AP) Britain dodged recession after official figures showed the economy grew in the first quarter. The Office for National Statistics said the economy grew by 0.3 percent in the first quarter compared with the previous three-month period. Economists on average were expecting growth of 0.1 percent compared with the... more »

• UK industrial output unexpectedly falls in January

  March 12, 2013 5:07 AM

  LONDON (AP) Official figures show industrial production in Britain fell sharply during January, raising fears the country will suffer its third recession in not much more than four years. The Office for National Statistics says Tuesday that industrial production fell a monthly rate of 1.2 percent in January, in contrast... more »

• UK credit downgrade provokes call for change

  February 23, 2013 4:05 AM

  LONDON (AP) The man in charge in Britain's economy says he won't change direction despite a rating agency's decision to downgrade the nation's credit rating and he spurned renewed calls from the opposition for more stimulus for a flat-lining economy. Treasury chief George Osborne declared that the action by Moody's... more »

• BoE governor backed more stimulus for UK economy

  February 20, 2013 5:41 AM

  LONDON (AP) The Bank of England expressed growing concern over Britain's economy and came surprisingly close to backing another monetary stimulus in a move that piled further pressure on the pound. Minutes of the last policy meeting of the Bank of England released Wednesday showed outgoing Gov. Mervyn King and... more »

• Bank of England vote on stimulus still strongly no

  January 23, 2013 4:05 AM

  LONDON (AP) Minutes of the Bank of England's latest rate-setting meeting continue to show little enthusiasm for injecting more money into the economy, but the Bank's governor says it is prepared to do more if necessary. Minutes of the Monetary Policy Committee's January meeting released Wednesday showed there was again... more »

• UK manufacturing output contracts

  January 11, 2013 8:22 AM

  LONDON (AP) British manufacturing has contracted in November, fueling concern that the country's economy could be headed back into recession. The Office of National Statistics says manufacturing output fell by 0.3 percent between October and November compared with analysts' expectations of an increase of 0.5 percent. Britain's economy has only... more »

• UK downgrades Q3 GDP growth to 0.9 percent

  December 21, 2012 4:19 AM

  LONDON (AP) The growth in Britain's economy for the third quarter has been revised down from 1 percent to 0.9 percent, the U.K's official statisticians say. The Office for National Statistics said Friday that the reduction in the rate of growth for the U.K.'s gross domestic product was caused by... more »

• UK finance boss: Debt-cutting slower than expected

  December 2, 2012 5:54 AM

  LONDON (AP) Britain's Treasury chief acknowledged Sunday the economy is taking longer than expected to recover from the financial crisis, but insisted he will not waver from his policy of tax hikes and spending cuts. George Osborne said the British government might miss its self-imposed goals of cutting debt as... more »

• UK finance boss: Debt-cutting slower than expected

  December 2, 2012 5:04 AM

  LONDON (AP) Britain's Treasury chief has acknowledged that the government is not meeting its self-imposed economic targets, but insists he will not waver from his policy of tax hikes and spending cuts. George Osborne said Sunday that the government has set goals of cutting debt as a share of national... more »

• UK still borrowing more than planned

  November 21, 2012 5:40 AM

  LONDON (AP) The British government continued to borrow more than planned in October as corporation tax collections fell sharply in the wake of a nine-month recession, official figures showed Wednesday. The Office for National Statistics said borrowing in October was 8.6 billion pounds ($13.7 billion), up from 6 billion pounds... more »

• UK unemployment falls but pay lags below inflation

  November 14, 2012 3:59 AM

  LONDON (AP) Official statistics show that the unemployment rate in the United Kingdom fell to 7.8 percent in the July-September period. The Office for National Statistics says Wednesday that the unemployment rate dropped from 8.0 percent in the previous three months and from 8.2 percent in the year-earlier period. Despite... more »

• UK recession over as economy grows 1 pct in Q3

  October 25, 2012 5:55 AM

  LONDON (AP) Britain's economy emerged from its nine-month recession in the July to September quarter, when spending on the Olympics helped it grow by a bigger than expected 1 percent, according to official figures released Thursday. The number published by the Office for National Statistics beat the market consensus forecast... more »

• Bank of England panel divided on future stimulus

  October 17, 2012 4:58 AM

  LONDON (AP) The likelihood that the Bank of England might approve more economic stimulus next month decreased on Wednesday as minutes from the latest policy meeting showed the rate-setters disagreed on the program's effectiveness and official figures showed the unemployment rate has dropped. According to the minutes, the nine members... more »

• Bank of England panel divided on future stimulus

  October 17, 2012 4:00 AM

  LONDON (AP) Minutes of the Bank of England's rate-setting meeting show that while there was unanimous agreement this month to not expand its stimulus program, differences emerged on what to do in the months ahead. Minutes released Wednesday said the nine members of the Bank's Monetary Policy Committee agreed that... more »

• Bank of England unanimous on rates, stimulus

  September 19, 2012 4:15 AM

  LONDON (AP) The Bank of England's Monetary Policy Committee was unanimous this month in keeping the interest rates and the economic stimulus program unchanged. Minutes of the MPC meeting released Wednesday show all but one of its nine members are open to another increase in the stimulus program called quantitative... more »

• UK unemployment falls to 8 pct despite recession

  August 15, 2012 3:53 AM

  LONDON (AP) Official figures show unemployment in the U.K. dropped to 8 percent in the three months to end-June despite a recession which has now lasted for nine months. The Office for National Statistics reported Wednesday that the rate was down from 8.2 percent in the previous three month period.... more »

• UK inflation in surprise rise to 2.6 percent

  August 14, 2012 5:15 AM

  LONDON (AP) Britain had another dose of bad economic news Tuesday after official figures showed an unexpected increase in inflation that may hit market expectations of another round of monetary stimulus from the Bank of England. Though the rise in inflation to 2.6 percent from the previous month's 2.4 percent... more »

• Bank of England sees stagnant UK economy

  August 8, 2012 5:50 AM

  LONDON (AP) Britain's economy will stagnate this year, the Bank of England has forecast, raising expectations that more stimulus measures will be needed. In its quarterly Inflation Report released Wednesday, the Bank predicted that the U.K. economy will not grow overall in 2012 in spite of staging a return to... more »

• Bank of England sees only weak exit from recession

  August 8, 2012 4:49 AM

  LONDON (AP) The Bank of England has forecast that Britain's economy will emerge from recession later this year but remain very weak. In its quarterly Inflation Report, released Wednesday, the Bank predicts that the economy will return to growth in the second half of the year, ending a recession that... more »

• UK in a deeper recession than thought

  July 25, 2012 5:48 AM

  LONDON (AP) Britain is suffering a far deeper recession than thought, official figures showed Wednesday in a development that is likely to increase the pressure on the government to ease up on its tough austerity approach. The Office for National Statistics said the British economy contracted by a quarterly rate... more »

• UK recession deeper than previously thought

  June 28, 2012 4:33 AM

  LONDON (AP) Official statisticians say Britain's current recession is deeper than they had thought. The Office for National Statistics said Thursday that the economy shrank by 0.4 percent in the last quarter of 2011, a bigger dip than the 0.3 percent drop reported previously. However, the agency confirmed its earlier... more »

• Bank of England split on stimulus this month

  June 20, 2012 4:09 AM

  LONDON (AP) The Bank of England's Monetary Policy Committee came within one vote of backing more monetary stimulus for the economy at its meeting earlier this month. Minutes of the MPC's June meeting released Wednesday showed that Governor Mervyn King joined with two other members in favor of an injection... more »

• UK analysts await details of business lending plan

  June 15, 2012 2:33 AM

  LONDON (AP) Analysts say they welcome an initiative by the British government and the Bank of England to offer up to 140 billion pounds ($217 billion) to banks to stimulate lending but are skeptical of the program's potential to give a significant boost to a sputtering U.K. economy. The aim... more »

• UK factory output down 0.7 pct in April

  June 12, 2012 4:02 AM

  LONDON (AP) In a fresh sign that U.K.'s economy is struggling to return to growth, official data out Tuesday show factory output falling by 0.7 percent in April. The Office for National Statistics said Tuesday that the broader index of industrial production, including mining, energy supply and water management, was... more »

• Sharp drop in UK retail sales boosts stimulus case

  May 23, 2012 5:17 AM

  LONDON (AP) Retail sales fell sharply in Britain during the wettest April in a century, official data showed Wednesday, a piece of bad economic news which analysts say could help prod the Bank of England to approve more monetary stimulus. The Office for National Statistics said the volume of sales... more »

• Bank of England 'finely balanced' over stimulus

  May 23, 2012 3:59 AM

  LONDON (AP) The minutes to the last policy meeting at the Bank of England show that only one of the nine members of the rate-setting committee voted for more economic stimulus. However, the minutes, published Wednesday, show that several members thought the decision was finely balanced. For the second month... more »

• IMF calls on UK to do more to boost economy

  May 22, 2012 5:43 AM

  LONDON (AP) The International Monetary Fund has issued a tough assessment of U.K. economic policy, urging the coalition government and Bank of England to do more to boost demand in the economy. The IMF's report of its latest consultation with British authorities released Tuesday called for more stimulus, either through... more »

• Bank of England downgrades UK growth forecast

  May 16, 2012 5:02 AM

  LONDON (AP) The Bank of England has trimmed its forecast for U.K. economic growth this year to 0.8 percent, but expects inflation to remain above target for another year. In its quarterly Inflation Report released Wednesday, the Bank reduced its growth forecast from 1 percent three months ago. And the... more »

• UK manufacturing rises strongly in March

  May 10, 2012 3:58 AM

  LONDON (AP) Official figures show that British manufacturing rose by 0.9 percent in March, beating market forecasts for a more modest half-percent gain. However, the Office for National Statistics also said Thursday that the output of all production industries fell by 0.3 percent in March compared to the previous month... more »

• Good weather, fuel panic drives UK retail boost

  April 20, 2012 5:49 AM

  LONDON (AP) Official data shows that retail sales in Britain rose by 1.8 percent in March, helped by warm weather and a spate of panic-buying for petrol. The figures announced Friday by the Office for National Statistics were well ahead of the market consensus of 0.5 percent growth. The results... more »

• Pound spikes after Bank of England minutes

  April 18, 2012 4:06 AM

  LONDON (AP) The pound shot up after minutes to the last rate-setting meeting at the Bank of England reined in market expectations that the central bank will sanction another monetary stimulus soon. The minutes, published Wednesday, showed that only David Miles advocated another 25 billion pounds injection into the British... more »

• Pound spikes after Bank of England minutes

  April 18, 2012 4:06 AM

  LONDON (AP) The Bank of England reined in market expectations of a further round of economic stimulus for the U.K. after minutes of the last rate-setting meeting released Wednesday showed a near-unanimous decision not to change the Bank's 325 billion pounds ($519 billion) program. The pound shot up Wednesday against... more »

• Markets rein in Bank of England stimulus forecasts

  April 18, 2012 4:06 AM

  LONDON (AP) Markets reined in their expectations of a further economic stimulus from the Bank of England after minutes to its last rate-setting meeting showed a near-unanimous decision not to change the current program. The minutes, published Wednesday, showed that only one member of the nine-member panel voted to increase... more »

• UK inflation at 3.4 pct, lowest since Nov 2010

  March 20, 2012 5:43 AM

  LONDON (AP) Britain's main inflation rate fell to 3.4 percent in the year to February from 3.6 percent the previous month, official figures showed Tuesday. Though consumer price inflation is running at it lowest level since November 2010, the fall was slightly smaller than anticipated the consensus in the markets... more »

• UK unemployment at 8.4 pct

  March 14, 2012 5:01 AM

  LONDON (AP) Official data shows that Britain's unemployment rate rose to 8.4 percent in the three months from November through January, up from 8.3 percent in the previous three months. The Office for National Statistics said the figure released Wednesday matches the highest level of joblessness reported since 1995. Unemployment... more »

• UK reaps bigger than expected January surplus

  February 21, 2012 4:14 AM

  LONDON (AP) Official figures show that the British government posted a bigger than expected surplus in January, keeping it on track to beat its full-year target for deficit reduction. The Office for National Statistics said revenue exceeded borrowing by 7.8 billion pounds ($12.4 billion), the biggest monthly surplus in four... more »

• UK retail sales surprise with 1 pct January gain

  February 17, 2012 4:43 AM

  LONDON (AP) Official data shows that retail sales in Britain rose nearly 1 percent in January, contrary to market expectations of a decrease. The Office for National Statistics said Friday that both the volume and value of sales increased 0.9 percent on a seasonally adjusted basis since December, while analysts... more »

• Bank of England chief sees up-down economic growth

  February 15, 2012 3:46 AM

  LONDON (AP) The governor of the Bank of England says that Britain's economy is likely to grow slowly this year in a "zigzag" pattern of quarterly gains and setbacks in output. Introducing the Bank's latest quarterly Inflation Report, Mervyn King said Wednesday that spending cuts and tight credit conditions at... more »

• UK inflation rate drops to 3.6 percent

  February 14, 2012 3:47 AM

  LONDON (AP) Official figures show Britain's inflation rate fell to 3.6 percent in the year to January from 4.2 percent a month ago but remains above the Bank of England's target. The figure, published by the Office for National Statistics Tuesday, was in line with expectations and puts inflation below... more »

• UK unemployment rate hits 17-year high of 8.4 pct

  January 18, 2012 3:55 AM

  LONDON (AP) Official figures show that Britain's unemployment rate spiked to 8.4 percent in November, its highest level since 1995. The figure is up from last month's 8.3 percent and follows a run of fairly downbeat economic news. The Office for National Statistics also said Wednesday that there were 2.7... more »

• UK retailers enjoy Christmas but face tough 2012

  January 10, 2012 8:58 AM

  LONDON (AP) Mild weather and pre-Christmas discounting have helped Britain's retailers survive the holiday season but customers are not likely to keep shopping at the same pace. Figures by the British Retail Consortium and KPMG released Tuesday show that like-for-like sales in December 2011 in Britain were 2.2 percent higher... more »