The Latest Breaking News from Bank of England

Megan Greene said she is concerned that recent rises in inflation could see the outlook resemble a ‘plateau’ rather than a ‘hump’.

The FTSE 100 index closed down 51.67 points, 0.6%, at 8,791.80.

COMMENT: Forget homeowners with tracker mortgages or those desperate for a better deal – the person who’s hurting the most from the Bank of England’s decision not to lower interest rates is Rachel Reeves, says James Moore

Average savings rates have been on a downward path in recent weeks, but some providers have unveiled new products.

Average savings rates have been on a downward path in recent weeks, but some providers have unveiled new products.

As widely expected, the Bank of England kept interest rates on hold as fears grow that the conflict between Israel and Iran will escalate to involve the United States. This would likely send oil prices soaring and push UK inflation further above target.

UK central bank split 6-3 on interest rate decision, and warns that escalating Middle East conflict is pushing up energy prices

Rate remains at 4.25 per cent as experts look to balance higher inflation with economic growth

Inflation in the U.K. dropped modestly in May as a drop in air fares and transport costs were largely offset by rising food prices, particularly chocolate

June S&P 500 E-Mini futures (ESM25) are up +0.20%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.33% this morning, pointing to a slightly higher open on Wall Street after yesterday’s drop, while investors await the Federal Reserve’s policy decision and updated projections, as well as Chair Jerome Powell’s…

British inflation eased less than expected in May after surging in April, official data showed Wednesday, fuelling expectations that the Bank of England will hold interest rates steady this week.