Bank of England

This coverage examines the Bank of England’s decisions, reports, and policies, and their impact on the UK petcare industry. Pet Gazette reports on interest rate changes, inflation forecasts, economic updates, and financial stability measures, analysing how these factors influence consumer spending, business investment, and operational costs for pet retailers, wholesalers, distributors, and supply chain operators. Our coverage helps pet trade professionals understand the economic environment and plan strategically in response to monetary policy developments.

Feb- 2021 -

12 February

Economy

UK suffers record 9.9% GDP slump

GDP declined by 9.9% in 2020, a figure which is more than double of what was recorded in 2009 after the UK’s financial crisis. According to the ONS, the fall was largely due to restrictions which were in place for most of the year, forcing the economy to operate at limiting trading levels. Figures…
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Nov- 2020 -

5 November

Coronavirus

Chancellor extends furlough scheme to March

Chancellor Rishi Sunak has announced that the furlough scheme will be extended until the end of March, amid increased measures for business support as the UK enters a four-week lockdown. Payments are set to remain at 80% of employee’s wages. It comes as the chancellor said that it was “right…
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Apr- 2020 -

24 April

Coronavirus

Chancellor considering 100% guarantee on small business loans

Chancellor Rishi Sunak is reportedly considering offering a 100% guarantee on loans to small businesses of up to £25,000. According to the Financial Times, Sunak is set to up the guarantee, which currently sits at 80%, in a bid to make it easier for banks to supply the loans and comes after the Bank…
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Mar- 2020 -

3 March

Business Bites

Coronavirus is stepping up a gear – this could be serious

When I started this column back in December I did not anticipate a single subject would dominate it so much, but as I wrote last week it would be silly not to address the latest coronavirus circumstances given that each new development so far has had a profound impact on…
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Feb- 2020 -

28 February

Business Bites

Coronavirus sends ripples through markets, governments, companies and the public

Apologies for the repetition, but the new coronavirus is causing such a serious global reaction today it would be silly to focus on other things, so here are four key stories about what looks to be developing into a full blown international crisis. The FTSE 100 has lost nearly £200…
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19 February

Business Bites

Inflation jumps, physical money nearing the end, immigration to prioritise skills, £150m film studio to launch

Inflation has reached its highest rate in six months, at 1.8%, after the price of fuel and energy rose over the course of the last year. The consumer prices index (CPI) which measures the rate by monitoring the price of consumer goods, was expected to come in at 1.6%, so this…
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Jan- 2020 -

15 January

Business Bites

Boohoo more valuable than M&S – a sea-change encapsulated

From a purely journalistic standpoint it is now a de facto cliché to refer to Marks and Spencer as the “high street bellwether”, yet that is the status it has held for so many decades. The once mighty monolith was the first British retailer to reach a market capitalisation of £1bn and…
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14 January

Business Bites

Javid mulls three-year passenger duty holiday for Flybe

Things are not looking rosy for low-cost airline, Flybe, but the chancellor Sajid Javid may have some proposals that save it from complete collapse. It is reported this morning that he is considering cutting air passenger duty on all domestic flights – a big boon for all the other airlines but also…
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9 January

Business Bites

Who would have thought skinny jeans could be anyone’s undoing?

It’s not often that the business pages give you a good belly laugh. But today we have the spectacle of Marks & Spencer blaming its poor Christmas trading results partly on an oversupply of skinny jeans for men. Apparently customer surveys revealed that the high street bellwether’s ranges were “too old” the…
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Nov- 2018 -

1 November

Business

Bank of England puts hold on interest rates due to Brexit uncertainty

The Bank of England has placed interest rates on hold following growing uncertainty around Brexit. A vote to leave rates unchanged held by the bank’s Monetary Policy Committee (MPC) was in favour of leaving rates at 0.75% by 9-0. Financial markets are currently indicating that rates will not rise until…
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