The Latest Breaking News from Bank of England

Higher mortgage rates are taking their toll across the sector

The Bank of England governor said petrol retailers have been ‘charging too much’

Interest rate hits worst levels since Liz Truss' implosive 'mini budget' last year

Millions of UK mortgage borrowers could experience significant payment shocks this year. This is happening due to a steep rise in the Bank of England’s base rate over the past year to the highest level since 2008. This rate feeds through to many of the mortgage deals taken out by…

Exclusive: Figures show £26bn was loaned out to around 100,000 firms under the government-backed scheme, but only one in four have paid off the debt

Caution needed rather than panic measures over short-term risks after credibility of government and Bank of England hit

The PM said it was 'going to take time' to fix the situation

City Voices: Bank ought to be on top of everything. It isn’t.

Over the past year, interest rates have been rising rapidly around the world. The post-COVID economic recovery and Russia’s invasion of Ukraine caused inflation to reach 10% or more in many countries. Central banks in the US, UK and Europe have fought back by raising interest rates in an attempt…