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Quizzes > Quizzes for Business > Finance

Test Your UK Finance News Quiz Smarts

Analyse Current UK Finance News with Questions

Difficulty: Moderate
Questions: 20
Learning OutcomesStudy Material
Colorful paper art representing a trivia quiz on UK Finance News

The UK Finance News Quiz helps you see how up to date you are on recent UK market and money headlines, with 15 multiple-choice questions. Use it to spot gaps before an exam or interview and sharpen how you read daily moves. For more practice, try the finance knowledge quiz or the financial news trivia .

As of June 2024, what is the Bank of England's official bank rate?
5.25%
6.00%
3.75%
4.50%
The Bank of England's Monetary Policy Committee held the base rate at 5.25% in its June 2024 meeting. This rate reflects ongoing efforts to balance inflation targets and economic growth.
What was the UK headline Consumer Price Index (CPI) inflation rate reported for April 2024?
3.4%
2.1%
5.0%
4.0%
ONS data released in May 2024 showed headline CPI inflation at 3.4% for April. This figure remains above the Bank of England's 2% target, indicating persistent inflationary pressures.
Which UK regulator oversees the conduct of financial services firms and markets?
Prudential Regulation Authority (PRA)
Association of British Insurers (ABI)
Financial Policy Committee (FPC)
Financial Conduct Authority (FCA)
The FCA is responsible for regulating the conduct and integrity of financial services firms in the UK. It focuses on protecting consumers and ensuring market confidence.
What does GDP stand for?
Global Debt Position
Government Debt Percentage
Gross Disposable Profit
Gross Domestic Product
GDP stands for Gross Domestic Product and measures the total value of goods and services produced in a country over a specific period. It is a key indicator of economic activity.
What is the Bank of England's long-term inflation target?
2%
3%
0%
1.5%
The Bank of England's Monetary Policy Committee aims for a 2% inflation rate as measured by the CPI. This target is intended to provide price stability and anchor inflation expectations.
Which of the following measures was frozen in the UK Spring Budget 2024 to support motorists?
VAT on new cars
Inheritance tax threshold
Stamp duty land tax
Fuel duty
The Spring Budget 2024 included a freeze in fuel duty rates until March 2025 to help motorists with high pump prices. This measure was intended to ease cost-of-living pressures for households and businesses.
What rationale did the Bank of England give for holding interest rates at 5.25% in June 2024?
Rising commodity prices
Strong wage growth
Persistently high services inflation
Weak housing market
The MPC cited sticky services sector inflation as the key factor for pausing rate hikes at 5.25%. They judged that controlling underlying services costs was critical to returning inflation toward target.
In May 2024, the UK's current account deficit was reported to widen to approximately what percentage of GDP?
8.5%
1.0%
6.1%
3.2%
ONS figures showed the UK current account deficit widened to about 6.1% of GDP in Q1 2024. A larger deficit can reflect higher import costs and lower net exports.
According to the OBR's latest forecasts, UK GDP is expected to grow by what percentage in 2024?
2.0%
1.2%
0.6%
-0.5%
The OBR projected 0.6% growth in GDP for 2024, indicating a modest economic expansion. This reflects subdued consumer spending and global uncertainties.
What was the UK unemployment rate as reported in Q1 2024?
3.5%
6.0%
5.0%
4.2%
The ONS reported an unemployment rate of 4.2% in Q1 2024, marking a slight uptick from the previous quarter. Labour market conditions remained historically tight despite economic headwinds.
Which major UK bank pledged to reach net-zero carbon emissions in its financing activities by 2030?
Lloyds Banking Group
Barclays
NatWest
HSBC
In early 2024, Barclays announced a commitment to align all its financing activities with net-zero emissions by 2030. This pledge covers lending and capital markets activities.
The UK property market saw annual house price growth of approximately what rate in April 2024?
5.0%
3.0%
1.5%
0.1%
Data from the ONS and major estate agents indicated house prices rose about 1.5% year-on-year in April 2024. This modest increase reflected higher mortgage costs constraining demand.
In May 2024, the FCA proposed classifying certain stablecoins as which type of instrument?
E-money tokens
Securities
Utility tokens
Commodities
The FCA consultation suggested regulating some stablecoins under e-money rules to ensure consumer protection and financial stability. This classification would bring them into the existing electronic money framework.
Under the final Basel III 'endgame' rules, what is the minimum total capital ratio banks must maintain?
5%
12%
8%
10%
The Basel III endgame sets a minimum total capital requirement of 8% of risk-weighted assets. This standard strengthens bank resilience by ensuring adequate capital buffers.
Which sector did the UK government's Spring Budget 2024 specifically mention supporting through increased R&D tax credits?
Retail
Tourism
Agriculture
Technology and manufacturing
The Spring Budget highlighted enhanced R&D tax relief aimed at technology and advanced manufacturing firms. This measure is intended to boost innovation and productivity in key growth sectors.
A 25 basis-point hike in the Bank of England's base rate is most likely to have which immediate effect on UK government bond (gilt) yields?
No change to yields
Prices rise but yields unchanged
Yields fall and prices rise
Yields rise and prices fall
When the base rate increases, new bonds are issued at higher rates, pushing up yields on existing bonds. As yields rise, the prices of those existing bonds fall to align with market rates.
Stricter Basel III capital requirements under the 'endgame' are expected to affect bank lending by:
Reducing lending capacity and increasing lending rates
Forcing banks to only lend to governments
Increasing lending capacity and reducing rates
Having no impact on lending
Higher minimum capital ratios mean banks must hold more equity against assets, reducing the amount they can lend. To maintain profitability, banks may also charge higher rates on loans.
Ending the non-domiciled tax status in the UK would most likely have which effect on London's high-end residential property market?
Increase foreign demand and push prices up
No effect on demand
Only affect rental yields
Decrease foreign demand and pressure prices downward
Removing the non-dom status would reduce tax advantages for wealthy overseas buyers, likely dampening foreign investment in London real estate. This reduction in demand could put downward pressure on prices.
The government's decision to freeze fuel duty into 2025 could have which unintended long-term environmental impact?
Higher carbon emissions due to reduced incentive for fuel efficiency
Immediate drop in fuel prices
No impact on emissions
Lower carbon emissions due to more efficient engines
By keeping fuel cheaper, motorists have less incentive to switch to low-emission vehicles or adopt fuel-efficient driving habits. Over time, this can slow progress towards emissions reduction targets.
How does explicit forward guidance from the Bank of England typically influence financial market volatility?
It reduces volatility by clarifying future policy path
It guarantees market returns
It increases volatility by creating uncertainty
It has no impact on volatility
Forward guidance helps anchor market expectations by outlining likely future moves in interest rates. Clear communication reduces uncertainty and dampens sharp market reactions.
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Learning Outcomes

  1. Analyse recent UK financial headlines to understand market trends.
  2. Evaluate key government financial policies impacting major sectors.
  3. Identify significant changes in banking regulations and their implications.
  4. Demonstrate knowledge of recent economic indicators and statistics.
  5. Apply critical thinking to assess the effects of finance news on investments.

Cheat Sheet

  1. Impact of household costs and trade tensions - UK shoppers are feeling the pinch as living expenses soar and fresh U.S. tariffs hit home. In April 2025, the GfK Consumer Confidence Index plunged to - 23, showing just how sensitive mood can be to your wallet and global politics. UK consumer confidence hit by higher household costs and US tariffs
  2. Weak export orders hitting manufacturing - UK factories are grappling with a drop in orders from abroad thanks to trade spats and added U.S. duties. The CBI's April survey reported a balance of - 41, the weakest since autumn 2024, underlining how global disputes ripple into factory floors. UK manufacturers hit by weak export orders in April, CBI survey shows
  3. Trends in executive compensation - FTSE 100 bosses are cashing in with an 11% median pay rise in 2025, leaping ahead of their U.S. peers at 7.5%. At $6.5 million on average, this bump is designed to close the pay gap and keep top talent at home. UK executive pay increases surpass US competitors
  4. Renewable energy for security - Keir Starmer's £300 million offshore wind pledge in April 2025 is part of a race to hit 100% renewable electricity by 2030. This green push aims to cut reliance on fossil fuels and keep bills more stable when markets go wild. The UK says at an energy summit that green power will boost security, as the US differs
  5. Key points of the October 2024 budget - Chancellor Rachel Reeves shook things up with higher employer National Insurance at 15% and tweaks to inheritance tax. The aim? Funnel more cash into hospitals, schools, and roads for the long haul. October 2024 United Kingdom budget
  6. Climate-related finance disclosures - From 2025, UK companies must spill the beans on how climate risks could hit their balance sheets. This push for transparency is all about steering investment towards greener, more resilient business models. UK government pledges economy-wide climate disclosures by 2025
  7. Growth forecasts and inflation trends - The OBR's November 2023 update slashed growth estimates and warned inflation may stay above 2% until 2025. These forecasts spotlight potential bumps ahead for borrowing costs and public spending. OBR halves UK growth forecast and warns inflation will exceed 2% target until 2025
  8. November 2023 Autumn Statement measures - Jeremy Hunt's autumn 2023 plan mixed tax cuts, lower National Insurance, and fresh business incentives to jump-start the economy. It's a toolkit designed to turbocharge growth and keep companies racing ahead. November 2023 United Kingdom autumn statement
  9. Global trade policy impacts - U.S. tariffs on UK exports have chipped away at confidence and factory output, proving how linked trade rules and local jobs really are. It's a reminder that shifting policies abroad can shake up your morning latte. Rising bills and trade war push UK consumer mood to 17-month low
  10. Government investment in infrastructure - The October 2024 budget earmarked big bucks for hospitals, schools, and homes to modernize Britain's backbone. Solid infrastructure investment is like spinach for the economy - boosts growth and makes everything stronger. Chancellor chooses a Budget to rebuild Britain
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