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The information provided below about cookies also applies to these other tracking technologies. This allows our sites to recognize your device from those of other users on our sites. The other tracking technologies work similarly to cookies and place small data files on your devices or monitor your website activity to enable us to collect information about how you use our sites. What are Cookies and Other Tracking Technologies?Ī cookie is a small text file that can be stored on and accessed from your device when you visit one of our sites, to the extent you agree. This cookie policy should be read together with our Privacy Policy.īy continuing to browse or use our sites, you agree that we can store and access cookies and other tracking technologies as described in this policy. This cookie policy explains how and why cookies and other similar technologies may be stored on and accessed from your device when you use or visit websites that posts a link to this Policy (collectively, “the sites”). By meeting this target and for inflation, we help support a stable and healthy understands that your privacy is important to you and we are committed for being transparent about the technologies we use. Taking all of this information on the economy together, we set interest rates – normally eight times a year – to help to ensure that price rises are low and stable.
It’s these seasonally adjusted figures that you’ll normally see quoted in the news for economic data like consumer spending, output or inflation. Even though consumer spending rose by nearly 9% between November and December, on a seasonally-adjusted basis it actually fell. The festive period in 2018 was a good example of this. This helps us capture the true strength of spending across the UK economy. To help us the Office for National Statistics Opens in a new window (ONS) publishes measures of spending that are adjusted to take away the impact of seasonal events such as Christmas. Just because people spend more at Christmas doesn’t necessarily mean the economy is strong. Household spending is particularly important as it forms most of total spending in the economy.īut we need to be careful. Here at the Bank of England we regularly look at measures of household spending.Īlong with other things such as spending by businesses and the amount of goods we buy and sell abroad, this helps us form a judgement about the overall strength of the economy. Why is the Bank of England interested in what we spend?
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