The Bank of England’s Monetary Policy Committee met on 21st September and opted to hold interest rates at 5.25% following a surprise fall in inflation. Economists at the bank voted 5-4 in favour of holding the rate at 5.25%, with those opposing the decision calling for a 0.25 percentage point … [Read more...]
News for: Finance
Manchester Airports Group raises £360 million in bond markets
Manchester Airports Group (MAG) has raised £360 million in the UK capital markets through the issuances of an 18-year bond which attracted interest from blue-chip UK investors. The bond, issued at a rate of 6.125%, was four times oversubscribed, totalling around £1.4 billion at its peak, … [Read more...]
Start Up Loans hits £1 billion milestone of support for UK small businesses
The government-backed Start Up Loans scheme, part of the British Business Bank, has delivered more than £1 billion worth of loans to small businesses nationwide since launching in 2012. In the North-west, businesses in the region have secured almost £122 million in 13,020 loans, with an average … [Read more...]
North West business activity fell in August, finds NatWest business survey
Business activity levels across the North West fell for the first time in seven months in August, according to the latest Regional PMI survey by high street bank NatWest. The headline North West PMI Business Activity Index – a seasonally adjusted index that measures the month-on-month change in … [Read more...]
Inflation dropped to 15 month low in July
The CPI, the Office for National Statistics’ (ONS) headline measure of annual inflation, stood at 6.8% in July, down from 7.9% in the previous month. The fall by 1.1 percentage points in the CPI brings inflation to its lowest level in 15 months. Month-on-month, the ONS recorded a 0.4% fall in … [Read more...]
Interest rates rise to 5.25%
The Bank of England has raised its base interest rates to 5.25%, their highest level in 15 years as it continues to respond to high inflation. The latest 0.25 percentage point rise represents the fourteenth consecutive decision by the Bank’s Monetary Policy Committee to increase the base rate of … [Read more...]
Wilmslow fitness group secures £6.5 million refinancing
Wilmslow based health and fitness club operator, Total Fitness, has secured a £6.5 million loan from OakNorth Bank. The loan will refinance an existing debt facility, as well as support the refurbishment of several of Total Fitness's clubs. The deal also includes a debt accordion to support … [Read more...]
NatWest reveals fifth consecutive rise in business activity in the North West in June PMI survey
Firms in the North West recorded a fifth consecutive monthly rise in business activity in June, according to the latest NatWest UK Regional PMI survey. Despite the continued uplift in activity, the rate of growth eased to its slowest level since March following a drop in inflows of new work, with … [Read more...]
Support measures announced for mortgage holders following interest rate rise
Following the Bank of England’s decision to raise its base interest rate to 5%, Chancellor of the Exchequer Jeremy Hunt has announced new support measures for homeowners struggling with rising mortgage repayments. On 22nd June, the Bank of England’s Monetary Policy Committee (MPC) has agreed its … [Read more...]
North-west house prices up 4.8% on 2022
House prices in the North-west rose 4.8% in the 12 months to April 2023, according to the latest UK House Price Index published by the Office of National Statistics (ONS). The region has seen the second fastest house price growth in the UK, behind only the North-east (5.5% growth in the same … [Read more...]
Inflation falls to 8.7%
Inflation fell to 8.7% in April, according to the latest Consumer Price Index figures published today (24th May) by the Office of National Statistics (ONS). The fall, down from 10.1% in March sees the measure of price increases drop back below double figures for the first time since September's … [Read more...]
Bank of England base rate rises by a further 0.25 percentage points
The Bank of England’s top economists have agreed a further 0.25 percentage point increase in its base rate of interest, which now stands at 4.5%. The bank’s Monetary Policy Committee (MPC) have followed in the footsteps of the US Federal Reserve and the Eurozone’s European Central Bank in raising … [Read more...]