British Economy
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Rishi Sunak faces ‘profound economic crisis’ as new British prime ministerThe U.K.'s new leader acknowledged mistakes by his predecessor and promised to place "economic stability and confidence'' at the heart of his agenda.WorldOct 25, 2022
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Bank of England hikes key interest rate 0.5 percentage points amid recession fearsThe Bank of England raised its benchmark interest rate to 2.25 per cent on Thursday, a step of 50 basis points, as it looks to get a handle on inflation.EconomySep 22, 2022
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Few signs of progress on critical day for Brexit trade negotiationsReaching a trade deal by then would ensure there are no tariffs and trade quotas on goods exported or imported by the two sides.WorldDec 7, 2020
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Britain reports 20% economic slump amid coronavirus, worst yet for major powerThe data also showed the world's sixth-biggest economy entered a recession as it shrank for a second quarter in a row.WorldAug 12, 2020
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U.K. economy nosedives 20.4% in one month due to COVID-19 lockdown measuresAll areas of the economy were hit during the month, in particular pubs, education, health and car sales.WorldJun 12, 2020
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U.K. announces new post-Brexit tariff regime that cuts billions to import leviesUnder the new regime, 60% of trade will come into the UK tariff free on WTO terms or through existing preferential access from January 2021, the government said.EconomyMay 19, 2020
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Amid Brexit uncertainty, British economy hits lowest point since global financial crisisOfficial figures released Monday showed that a lack of clarity over Brexit weighed on businesses throughout 2018 and kept a lid on their investments.EconomyFeb 11, 2019
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Carney says Bank of England ready for multiple Brexit scenariosBrexit developments are the “most significant influences” on the British economic outlook right now, Bank of England Governor Mark Carney says.WorldSep 14, 2018
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Brexit fallout will hit Britain’s economy this year, EU commissioner warnsThe British economy will pay higher costs this year and next for the uncertainty created by its vote to leave the European Union.WorldJan 26, 2017
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British pound plummets to 31-year lowThe beleaguered British pound suffered a "flash crash" on Friday in which it briefly plummeted 6 per cent within minutes to a new 31-year low.MoneyOct 7, 2016
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