Britain goes into the black
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE London financial markets are expected to be buoyed by Friday's surprise news that Britain's current account was in balance last year for the first time in nine years.
Although the gap between imports and exports of goods widened, a record invisibles surplus kept the current account in the black in the final quarter, leaving the annual figure in surplus for the first time since 1985.
The economy expanded by 4.2 per cent last year, according to the revised GDP figures for the final quarter of 1994.
Indicators
The increase in the index from 98.97 to 99.39 was due to the continued strengthening of share markets in the UK and US and higher numbers of car registrations.
Foreign exchange
1.5932
2.2509
141.36
85.6
1.4128
88.73
90.8
London close change over week change over year
£/$
£/DM
£/Yen
£ index*
$/DM
$/Yen
$ index*
*Bank of England trade weighted index
£/$
£/DM
$/DM
$/Yen
1.5932
2.2509
1.4128
88.73
1.5865
22469
1.4142
88.15
Forward rates
Spot rate 3 months 6 months
1.5857
2.2250
1.4095
87.14
Hoare
Govett
1.45
2.40
1.65
115
12 month forecasts
1.53
2.40
1.57
103
Goldman
Sachs
The foward rate differs from the spot rate by the interest rate differential. This does not necessarily
coincide with economists' views of likely currency movements. Two city forecasts are shown.
International
Inflation
annual change, %
latest year ago
Interest rates
3 m'th money mkt, %
latest year ago
GNP/GDP growth
annual change, %
latest year ago
UK
Australia
Belgium
Canada
France
Germany
Italy
Japan
Neth
Spain
Sweden
USA
OECD
3.4
2.6
1.8
0.6
1.7
2.4
4.3
0.5
2.4
4.4
2.5
2.9
5.2
2.4
2.0
2.5
1.3
1.8
3.4
4.2
1.4
3.0
5.0
1.7
2.5
3.9
6.69
8.12
6.56
8.19
8.47
5.05
11.44
2.16
5.10
8.60
8.60
6.25
-
5.19
4.89
6.19
4.69
6.25
5.80
8.50
2.44
5.35
8.62
7.23
3.88
-
4.0
6.4
-0.7
5.6
3.8
2.7
3.7
0.8
2.1
-1.0
2.1
4.4
3.5
2.0
1.9
1.7
3.2
-1.0
-2.0
-0.8
-0.7
3.9
0.8
2.3
3.0
4.5
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments