The Latest Breaking News from Bank of England

Stock markets wobbled and oil prices sank on Friday amid growing fears that inflation-fighting interest rate hikes by central banks could trigger recession. Investors were shaken this week after the US Federal Reserve unleashed its biggest hike in borrowing costs for almost 30 years to tackle red-hot consumer prices, AFP…

Borrowers are seeing their costs rise but savings rates remain low

Analysis: Interest rate cuts show central banks willing to plunge economies into recession to halt price rises

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

We are in a double bind right now. Prices are going through the roof but all the signs suggest that the economy is weakening. The answer to higher prices is normally to raise interest rates, but this also induces people and firms to spend less money. The challenge for central…

London homeowners will be hardest hit by this week’s rise in interest rates, according to new research released on Friday.

Those on a tracker rate mortgage will see their interest rates go up automatically - high street banks have started to confirm the dates when customers will be hit with higher costs

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

Millions of people are facing higher repayments after the base rate rose once again

Millions of homeowners are set to be affected by the rise

The clock is ticking if you want to reduce the impact of the next hike.