Bank of England
The Bank of England plays a key role in the UK jewellery industry through its influence on interest rates, inflation, currency strength, and economic policy. These factors directly impact consumer spending, raw material costs, financing, and price strategies for jewellers and suppliers. Jewellery Focus provides expert coverage of the Bank’s announcements, economic forecasts, monetary policy decisions, and their implications for trade confidence, sourcing expenses, and retail performance. Our reporting helps UK jewellery professionals plan strategically and adapt to shifting macroeconomic conditions.
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Apr- 2017 -21 AprilRetailers
UK retail sales drop as inflation rises
UK retail sales dropped by 1.8% in March marking the largest year on year decline since 2010 and exceeding economists’ predictions of a 0.5% decline. Coinciding with the rise of inflation, the volume of goods sold in store and online fell 1.4% in the first quarter of the year. The…
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Jul- 2016 -26 JulyEconomy
Natwest and RBS to consider charging businesses to hold money
Natwest and the Royal Bank of Scotland (RBS) are mulling applying negative interest rates to business accounts and have warned this could mean charging businesses to hold deposits. In a letter to just under 1.3 million commercial and business customers, the banks said very low interest rates globally “could result…
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Jun- 2016 -27 JuneCurrent Affairs
World Gold Council: gold price soars in wake of Brexit
The price of gold bullion has surged following the UK’s decision to leave the EU in last week’s referendum, according to the World Gold Council (WGC). The council said the price of gold jumped to $1,315.50/oz (£988/oz) on 24 June, following the announcement of the referendum. Gold was up 4%…
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May- 2015 -19 MayEconomy
UK inflation dips into negative
Inflation dipped below 0% for the first time since records began in April, down to -0.1%, according to the lates figures from the Office for National Statistics (ONS). The Consumer Prices Index has never turned negative in the decades since it was first recorded in 1960. The ONS said the…
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Nov- 2014 -18 NovemberBrand Profiles
The Second-Hand Uprising
The founders of used watch retailer Watchfinder & Co have secured £6.2m of investment in their company from VCs. Aside from taking the business into the major league, what exactly will this cash injection achieve for the hitherto organically-grown internet startup? By MICHAEL NORTHCOTT. Co-founder and brand director of Watchfinder…
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Jul- 2014 -11 JulyOpinion
COMMENT: Rising hallmarking figures are great news but the party may be short-lived
By Scott Thompson, founder and CEO of Carat* There is growing evidence that many parts of the UK are coming out of the great recession. I am pleased that many of my colleagues and friends in the jewellery industry are sounding more upbeat. However there is a risk that the…
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