UK Economy Insight

Recent articles

6th August 2009

UK Monthly Economic Update (pdf 48kb)

We won't know for another few quarters if the first £125bn of asset purchases by the Bank of England has managed to stop the rot, but the MPC has clearly decided that it's better to be safe than sorry and will buy another £50bn of bonds. This tells us that the Committee believes the UK economy remains in intensive care and that a bigger defibrillator is needed to help it emerge from the worst downturn for a generation.

9th July 2009

UK Monthly Economic Update - Stocks away! The role of inventories (pdf 54kb)

UK firms have been running down their inventories at a rapid pace in recent quarters. A pause in this process could help the UK to post a quarter or two of positive growth, but a sustained recovery could still be some way off. To find out more, please read our latest Monthly Economic Update.

4th June 2009

UK Monthly Economic Update (pdf 47kb)

Signs of stabilisation are one thing, a sustained recovery is an entirely different matter as demand conditions remain weak. The sustained upward movement in long-term interest rates in recent months threatens to pour weed killer on any green shoots, despite the Bank's efforts to lower borrowing costs across the economy.

7th May 2009

UK Monthly Economic Update (pdf 47kb)

Despite the biggest stimulus in UK history, the recession continues to deepen. But don't panic, the policies put in place will work eventually. The Bank of England has now decided to expand its asset purchase scheme rather than stay its hand. Given the lag between action and effect, this can't have been an easy call.

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