The Latest Breaking News from Bank of England

Firing up the property market with a tax break is usually the Conservatives’ go-to tactic in times of trouble. But the chancellor must have his reasons…

The city’s pool of skilled workers is attracting startups and big name companies alike

But the stock of homes on the market remains low

Rolling coverage of the latest economic and financial news

Prices also increased by 0.9% month on month in May, taking the average house price to £269,914, Nationwide Building Society said.

In normal times consumers spend for gratification – in this cost of living crisis they are spending out of desperation

Annual growth for credit card borrowing hit 11.6% in April

Figures point to delay in house purchasing and increase in debt for essential items

The annual growth rate of credit card borrowing in April was 11.6%, marking the highest rate since November 2005, the Bank of England said.

There has been a huge amount of concern about rising inflation in recent months, and it’s made worse by the fact that wage inflation has not been keeping up. A few workers in high-paid jobs have enjoyed higher bonuses and inflation-busting pay rises – it has just been reported that…

The Tory reputation for economic competence was shredded in 1992 but the present PM’s woes go deeper, politically and economically