New Zealand cuts interest rate quarter point to 3.25 percent

WELLINGTON, New Zealand (AP) — New Zealand's central bank on Thursday cut its benchmark interest rate by a quarter point to 3.25 percent and signaled more cuts could be on the way as farmers grapple with a slump in prices for the country's key milk exports.

Housebuilding boosts UK construction again in June

An increase in housebuilding helped the UK construction industry to grow at its fastest pace for four months in June, a survey has suggested.

UK manufacturing, mortgage data point to more balanced recovery

LONDON (Reuters) - Britain's economic recovery is showing signs of a healthier balance after data on Monday suggested some of the heat is coming out of the housing market while manufacturing remains strong.

Increased borrowing drives shopper spending

Shoppers are increasingly turning to borrowed cash after the first growth in overdrafts and personal loans for five years, figures showed today.

Fall in lending to UK business raises concerns over shape of recovery

Lending to businesses fell again in recent months but more mortgages were approved, fanning fears of a housing bubble and raising more concerns over the shape of the recovery.

Inflation higher than expected with energy price rise on way

Inflation was higher than expected last month, keeping household budgets under pressure even before the next round of energy bill increases come in this winter.