The second RBS Regional Growth Tracker shows that the East Midlands is the fastest growing English region in 2014 and four regions: the East Midlands, London, the South East and the South West have now grown bigger than their pre 2008 peak
Today the Payments Council, working alongside the Financial Conduct Authority (FCA) has announced an expansion of the “retry system” introduced for Direct Debit and Standing Orders but RBS is already ahead of the curve.
The UK labour market is more flexible than previously thought. The Bank of England now thinks employment can keep rising without causing inflation. So there’s no rush for rates to rise now. The European Central Bank has a different set of problems. It needs to respond to low growth and low inflation.
The UK and the US are enjoying rosy growth outlooks. And so their central banks are considering when to start raising rates. But in the Eurozone growth is barely visible and inflation is worryingly low. For the single-currency area’s central bank, it’s a different question – when does it step-in to provide more support?