uk economy will \fail to pick up\ in fourth quarter
Sunday 6 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

UK economy will \'fail to pick up\' in fourth quarter

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice UK economy will \'fail to pick up\' in fourth quarter

London - AFP

Bank of England policymakers agree that Britain\'s stalled economy will fail to pick up in the current fourth quarter, according to minutes of their last meeting published on Wednesday. The forecast comes as the BoE minutes showed that members of the Monetary Policy Committee voted unanimously at the October meeting to pump £75 billion (£119 billion, 86 billion euros) into the British economy. The MPC also voted 9-0 earlier this month to keep British interest rates at a record low 0.50 percent -- where they have stood since March 2009. In a gloomy warning at the October 5-6 gathering, the MPC said that \"available indicators suggested that the underlying rate of growth ... would be close to zero in the fourth quarter\", or three months to December. The forecast comes before the first official estimate of British growth in the third quarter, which is due on November 1. Gross domestic product (GDP) -- the value of all services and goods produced in the economy -- grew by just 0.1 percent in the second quarter, according to the latest official reading. Minutes of the BoE\'s last meeting revealed that the MPC chose to reactivate its quantitative easing (QE) policy with £75 billion of new money -- to try and address \"acute\" stresses in bank funding markets. \"There had been increasingly visible symptoms over the month of rising stress in financial markets as concerns about the vulnerabilities associated with the indebtedness of several euro-area governments and banks had intensified,\" said the minutes. They added that \"short-term funding had become more expensive and difficult to obtain for European banks, including those in the United Kingdom, and investors had continued to shorten the term of the US dollar funding they provided.\" The Bank of England\'s main task is to use monetary policy to try and keep inflation close to a target of 2% Between March 2009 and January 2010, the BoE injected £200 billion ($321 billion, 228 billion euros) into the British economy under the radical QE policy, to aid recovery from recession -- but this has not been deemed enough. The minutes were meanwhile published one day after official data showed that British Consumer Prices Index (CPI) annual inflation surged to a three-year high of 5.2 percent in September on soaring domestic energy prices. The Bank of England\'s main task is to use monetary policy to try and keep CPI annual inflation close to a target of 2.0 percent. BoE governor Mervyn King predicted on Tuesday that inflation \"should fall back sharply early next year,\" and blamed the figures on temporary spikes in energy and import prices. He added that \"time is running out\" to solve the eurozone debt crisis and urged countries to work together to solve the region\'s economic woes. Britain, though not a eurozone member, is a key trading partner of the 17-nation bloc.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk economy will \fail to pick up\ in fourth quarter uk economy will \fail to pick up\ in fourth quarter

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk economy will \fail to pick up\ in fourth quarter uk economy will \fail to pick up\ in fourth quarter

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 11:14 2017 Saturday ,22 July

Smiley face found on ancient pot in Turkey

GMT 00:49 2017 Friday ,13 January

Meet Cats choreographer Gillian Lynne

GMT 09:57 2016 Tuesday ,08 November

Marks and Spencer: To shut 100 stores in overhaul

GMT 06:37 2012 Wednesday ,21 March

Toxins found in cheap jewellery

GMT 10:30 2015 Monday ,02 March

Designer to the stars dresses disabled catwalk

GMT 08:57 2017 Wednesday ,10 May

Counter terrorism strategies should be compliant

GMT 20:48 2017 Wednesday ,22 March

Sisi reiterates Egypt's support for Lebanon

GMT 06:59 2017 Sunday ,22 October

Philippines' Duterte says he will shoot criminals

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 09:36 2018 Wednesday ,10 January

Iran investigates death of young man in custody

GMT 08:51 2017 Tuesday ,15 August

HAAD implements next stage of healthcare reforms

GMT 20:22 2017 Monday ,27 November

Army attacks Saudi-paid mercenaries’ sites in Marib

GMT 08:56 2017 Thursday ,13 July

Reasons of price increase of services

GMT 08:13 2017 Sunday ,13 August

Abdul Hussain Abdul Redha passes away
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice