Bank of England
This coverage examines the Bank of Englandโs 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.
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Jul- 2018 -5 JulyBusiness
England/Colombia World Cup win scores UK a ยฃ1.3bn economy boost
Englandโs penalty shootout victory against Colombia has given the UK economy a ยฃ1.33bn boost according to new figures. The figures from the Centre for Retail Research (CRR) show that the UK will benefit from a ยฃ2.72bn boost if England make the final. It is thought that the majority of the…
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Feb- 2018 -28 FebruaryRetailers
High street banks urged to continue taking in old ยฃ10 notes to โsaveโ retailers
Retailers are continuing to hand out old ยฃ10 notes despite them ceasing to be legal tender on 1 March 2018. However, the Bank of England has not asked shops to stop giving them as change, which could cause issues as ยฃ2bn effectively becomes unspendable. The British Retail Consortium said: โIt…
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Jan- 2018 -18 JanuaryRetailers
Retailers warned the Darwin ยฃ10 note is almost extinct
The Bank of England has warned that it will withdraw legal tender status of the paper ยฃ10 note featuring Charles Darwin at 23:59 on Thursday 1 March 2018. With six weeks to go, all retailers that handle cash need to plan and prepare for the change. After the deadline, businesses…
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17 JanuaryCurrent Affairs
Inflation drops for the first time in 6 months
The inflation rate saw a slight dip in December, falling to 3%, according to figures released by the Office of National Statistics (ONS). The level of inflation, according to Consumer Price Index (CPI), was less than Novemberโs rate of 3.1%, which was at its highest for six years. The high…
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Dec- 2017 -12 DecemberCurrent Affairs
Inflation rises to its highest level for six years
Inflation rose to 3.1 percent in the month of November, figures from the Office of National Statistics (ONS) has revealed. According to the Consumer Prices Index (CPI), this was up from the three percent level seen in October, and is its highest level since March 2012. More expensive recreational goods…
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Nov- 2017 -8 NovemberCurrent Affairs
Household finances slow UK spending growth
Consumer spending growth slowed to 2.4 percent in October as Brits cut back across the board to cope with household finances. Data from Barclaycard reveals that spending on essentials (2.9 percent) outstripped discretionary spend growth (2.2 percent) for the second month running. This slowdown in expenditure on โnice-to-havesโ was driven…
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Jun- 2017 -7 JuneCurrent Affairs
Businesses unable to cope with interest increases, research shows
One in 25 businesses would be unable to pay off its debts if the interest rates were to increase, research from insolvency trade body R3 has shown. Some 79,000 (4%) UK companies said that a small increase would affect them financially, almost a quadrupling (20,000) of figures from previous research…
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Apr- 2017 -21 AprilCurrent Affairs
UK retail sales drop as inflation rises
UK retail sales dropped by 1.8% in March marking the largest year on year decline since 2010 and exceeding economistsโ predictions of a 0.5% decline. Coinciding with the rise of inflation, the volume of goods sold in store and online fell 1.4% in the first quarter of the year. The…
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Jul- 2016 -8 JulyEditorial
What will Brexit mean for the pet industry?
Contradictoryย claimsย and political turmoil. There’s no doubt that the recent EU Referendum left much of the UK scratching their heads and asking ‘what’s going to happen next?’ The pet trade is no exception. Following a vote onย June 23, 51.9 percent of voters within the UK chose to leave the European Union.…
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Jun- 2016 -22 JuneCurrent Affairs
The EU Referendum and what it means for you
Weโve all heard the debates and seen the news stories but what does the referendum mean for your business? On Thursday 23 June the UK will decide whether it chooses to remain in the European Union or whether it leaves. In 1975, Britain held a referendum shortly after joining the…
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