Economic Climate

The UK economy will grow faster in 2014 than any other G7 economy, while low wage rises will ensure interest rates do not rise until next year, an influential report has forecast.

House prices in London have risen by more than a quarter in the last year, with some now describing the capital's property market as ‘unsustainable'.

A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.

The governor of the Bank of England has told the UK to prepare for a potential rise in interest rates this year.

The UK economy is in good health, suggest two major business lobby groups, the CBI and the British Chambers of Commerce (BCC).

Unemployment in the UK fell to 2.24m in the three months to February, the lowest level since March 2009.

Twice as many British households are deemed ‘financially vulnerable' as ‘financially secure', while more than half of households have experienced financial difficulties in last twelve months, a global survey has found.

The International Monetary Fund (IMF) has upgraded its UK GDP forecast and now predicts the country will see stronger growth than any other G7 economy this year.

Policymakers risk the UK economic recovery stalling if they fail to address its "undue reliance" on consumer spending, the British Chambers of Commerce has said.

Monetary Policy Committee members predict any rise in the Bank base rate, currently at 0.5%, which occurs over the next two to three years will be gradual.