Interest Rates
This coverage examines interest rate changes and their impact on the UK petcare industry, focusing on implications for retailers, wholesalers, distributors, and supply chain operators. Pet Gazette reports on Bank of England decisions, financial market trends, and economic forecasts, alongside analysis of how borrowing costs, consumer spending, and business investment are affected. Our coverage helps pet trade professionals understand the financial landscape, plan budgets, and adapt strategies in response to interest rate movements.
-
Feb- 2023 -2 FebruaryEconomy
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 4%, the highest level in 14 years. The increase, which is the tenth consecutive increase, was decided after the bankโs Monetary Policy Committee (MPC) voted by a majority…
Read More » -
Dec- 2022 -15 DecemberEconomy
Bank of England raises interest rates by 0.5% to 3.5%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years.ย At a meeting held on 14 December 2022, the Bankโs MPC voted by a majority of 6-3 to increase rates by…
Read More » -
Sep- 2022 -22 SeptemberEconomy
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising from 1.75% to 2.25%. The latest announcement from the Monetary Policy Committee (MPC) comes as inflation remains at record highs for the UK, and marks the seventh consecutive rise in…
Read More » -
Aug- 2022 -10 AugustRetailing
Heatwave helps boost retail sales 2.3% in July
Retail sales increased 2.3% in July as the heatwave experienced across the UK helped boost demand for โhot weather essentialsโ, according to the latest data from the BRC and KPMG retail sales monitor. UK retail sales increased 1.6% on a like-for-like basis from July 2021, when they had increased 4.7%.…
Read More » -
4 AugustEconomy
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
Read More » -
Jul- 2022 -8 JulyRetailing
Cost of living crisis weighs on retail sales growth
High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to BDOโs High Street Sales Tracker (HSST). It found that total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month in 2021,…
Read More » -
Jun- 2022 -16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of Englandโs (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation.ย The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
Read More » -
May- 2022 -5 MayEconomy
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December.ย The new rate of 1%, up from 0.75%, is the BoEโs latest attempt to curb the rampant rise in inflation – also at its…
Read More » -
Mar- 2022 -17 MarchEconomy
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy.ย The Monetary Policy Committee (MPC) voted with a…
Read More » -
Feb- 2022 -3 FebruaryEconomy
BoE raises interest rates to 0.5%
The Bank of England (BoE) has raised interest rates for the second time in three months to 0.5%, up from 0.25% previously. The BoE Monetary Policy Committee (MPC) confirmed it voted by a majority of 5-4 to increase Bank Rate by 0.25 percentage points, to 0.5%. Interestingly, it revealed those…
Read More »
