Economic Review June 2021

MPC maintains monetary stance Following its latest meeting held on 22 June, the Monetary Policy Committee (MPC) judged that the existing monetary stance remains appropriate, despite inflation rising above the Bank of England’s target level. Data released last month by the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) 12-month rate – … Continue reading “Economic Review June 2021”

Economic Review February 2021

UK economy poised for recovery Although the latest gross domestic product (GDP) statistics revealed the UK suffered a record slump in 2020, there are now growing hopes the economy is on the cusp of recovery. Figures published by the Office for National Statistics (ONS), showed the UK endured a record fall in output last year … Continue reading “Economic Review February 2021”

Economic Review January 2021

Vaccinations provide economic hope Although recently released data has revealed a decline in UK economic activity, Bank of England (BoE) Governor Andrew Bailey, has expressed hopes that the vaccine roll-out programme will begin to spark a “pronounced recovery.” The latest gross domestic product (GDP) figures published by the Office for National Statistics (ONS) showed the … Continue reading “Economic Review January 2021”

Economic Review of July 2020

UK Economy Recovering Although recent data has confirmed that the UK economy is recovering from its coronavirus lockdown slump, the longer-term outlook (unsurprisingly) remains decidedly unclear. Official data released by the Office for National Statistics (ONS) showed that the UK economy grew by 1.8% in May, following April’s record 20.3% contraction. While this modest rebound … Continue reading “Economic Review of July 2020”