The Latest Breaking News from Bank of England

UK inflation today jumped to a bigger-than-expected annual rate of 7% as the cost of living crisis shows no sign of easing.

City economists think the Monetary Policy Committee will hike the UK’s interest rate to 1% at its next meeting on May 5

Andrew Bailey was a guest of Hull and Humber Chamber of Commerce

I wish the venerable institution would drop its missions and makeovers and concentrate on managing the nation’s wealth

Central banks talk tough about tackling inflation, but raising borrowing costs now risks plunging us into recession this year

Shortage of homes for sale and ‘race for space’ drove average cost to 282,753 in March, says Halifax

Rolling coverage of the latest economic and financial news

Global inflation outlook contrasts with Bank of England, which estimates inflation will fall next year

Andrew Bailey will speak at a Chamber breakfast on Friday

Britain set out a detailed plan on Monday to exploit the potential of cryptoassets and their underlying blockchain technology to help consumers make payments more efficiently. As part of creating a global cryptoasset hub, financial services minister John Glen said Britain will legislate to bring some stablecoins under the regulatory…

The LME suspended nickel trading on the morning of March 8 after Russia’s invasion of Ukraine resulted in ‘disorderly’ price moves