Consumer prices in the United Kingdom jumped 0.7 percent in August, after remaining flat for the previous two months, according to the UK’s Office for National Statistics (ONS).
The United Kingdom will formally exit the European Union in March 2019. Both the UK and the countries representing the euro area are expectantly readying for the massive changes that are likely to follow once Britain exits.
The seasonally adjusted jobless rate in the United Kingdom declined to 4.3 percent in the June-August quarter, the lowest since 1975 and slipping from close to 5 percent from the period a year earlier, according to the Office for National Statistics (ONS)
The Monetary Policy Committee (MPC) of the Bank of England voted by a 7-2 majority to raise key interest rates from 0.25 to 0.50 percent, following the penultimate MPC meeting of the year.
The pound sterling came under selling pressure versus the greenback and the euro this month, as mixed economic data from the United Kingdom and the ongoing departure negotiations with the 27 countries representing the European Union (EU) have remained grim. The UK is due to exit the European Union at the end of March 2019.
The ECB’s monetary policy in September was a non-event, with the governing council neither making any changes to the existing policy nor adding new ones as they voted to leave interest rates and non-monetary policies on hold.
The UK economy is struggling in the aftermath of the historic Brexit referendum on June 23, 2016, in which the country voted to maintain its sovereignty and exit from the European Union.
The seasonally adjusted second-quarter 2017 gross domestic product (GDP) growth in the eurozone, or the 19-member euro area, rose at a related pace of 0.6 percent. Compared to the same period a year earlier, the seasonally adjusted growth numbers in the euro area expanded at 2.1 percent, and 2.2 percent in EU28.
The morning after Friday, June 24, 2016, Europe awoke in shock. Against all expectations, one of her 28 members was going to start a divorce procedure. At the end of an intense campaign, during which pro-European MP Jo Cox was shot dead in Birstall