Scottish Friendly

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Financial mutual Scottish Friendly has appointed Alan Rankine as its new chief financial officer (CFO). Mr Rankine is currently chief actuary at Scottish Friendly and will take up his new role from 1 January 2023. As well as becoming CFO, he will take up the position of an Executive Director of the

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Real earnings in the UK have fallen by a record 3.0%, according to the latest figures published by the Office for National Statistics (ONS). In real terms (adjusted for inflation), growth in total and regular pay fell on the year in April to June 2022 at 2.5% for total pay and 3.0% for regular pay.

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The Bank of England’s Monetary Policy Committee (MPC) has announced an interest rate hike of 0.5% today in the face of rising inflation. At its meeting ending on 3 August 2022, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.5 percentage points, to 1.75%. One member preferre

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Scotland's onshore GDP decreased by -0.5% in April, according to statistics announced by Scotland's Chief Statistician. Output remains above the pre-pandemic level of February 2020, by 0.6%.

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Retail sales volumes fell by 0.5% in May 2022 following a rise of 0.4% in April, according to the latest figures published by the Office for National Statistics (ONS). However, sales volumes were 2.6% above their pre-coronavirus (COVID-19) February 2020 levels.

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The Bank of England (BoE) has raised interest rates again, from 1% to 1.25%, as it attempts to fight rising inflation. The bank’s Monetary Policy Committee (MPC) by a majority of 6-3, voted to increase the bank rate by 0.25 percentage points.

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