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The Latest Breaking News from Bank of England

Bank of England leaves interest rates on hold with committee split 8-1; ECB also keeps rates steady – as it happened

Bank warns UK may need to brace for rate hikes later this year as ‘higher inflation is unavoidable’; oil prices retreat after topping $126 a barrel on Reuters report that the US is pressing ahead with plans for an international coalition to open the strait of Hormuz

The Guardian - UK

The Bank of England is expected to keep interest rates on hold as it weighs the impact of Iran war

The Bank of England is expected to announce it's keeping interest rates on hold as policymakers assess the economic impact of the Iran war and Tehran’s effective closure of the Strait of Hormuz, through which a fifth of the world’s crude passes in peacetime

The Independent UK

Bank of England poised to hold interest rates steady despite inflation rise

But experts have said a hike could remain on the horizon if the conflict continues to put pressure on UK inflation.

Evening Standard

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What experts say the 1.8m people who need a new mortgage deal this year should do now

Tracker deals are attracting more attention once more

The Independent UK

UK economy set for £35bn hit from Middle East energy crisis, think tank says

The National Institute of Economic and Social Research said the UK could enter a recession this year if the crisis is particularly protracted.

Evening Standard

Paddington and Attenborough revealed as public’s top banknote designs after ‘woke’ criticism

The Bank of England is set to replace historical figures on its next series of banknotes

The Independent UK

Blue chips close lower amid US-Iran stalemate

For the week, the FTSE 100 fell 2.7%, the FTSE 250 also declined 2.7% and the AIM All-Share dipped 1.7%.

Evening Standard

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Bank Of England Warns Of Looming Global Stock Market Correction Despite Wartime Rally

Markets are hitting record highs even as war and financial system vulnerabilities raise concerns about a sudden reversal.

International Business Times

Bank of England set to hold interest rates despite Iran war pushing up inflation

Economists have however suggested that continued inflationary pressure could lead to a rate hike in the summer.

Evening Standard

Bank of England expert predicts global stock market fall and questions ‘are we prepared?’

The FTSE 100 is up more than 24 per cent across the last year – nearly six times the rate of some of the best cash returns in that time

The Independent UK

Stock markets will fall, Bank of England deputy governor says

Sarah Breeden predicts ‘adjustment’ due to elevated risk including private credit and highly valued AI stocks

The Guardian - UK

Food inflation may jump to 7% as energy prices rise, firms tell Bank of England

Bank officials also found that the conflict in the Middle East has ‘eroded’ confidence that the economy will improve.

Evening Standard

Oil hits highest level since US-Iran ceasefire began, as conflict hurts Gulf crude production – as it happened

Brent crude hits highest level since the US and Iran first agreed a ceasefire in early April

The Guardian - UK

UK inflation hits 3.3% as Iran war drives energy costs higher

British consumer prices rose at a faster pace in March, reaching 3.3% as the ongoing Iran war sent fuel prices soaring. The data has forced markets to reassess expectations for the Bank of England, with a previously anticipated interest rate cut next week now looking very unlikely.

Euronews

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The Independent UK

Economist highlights controversial way Bank of England can ease inflation

IN FULL

The Independent UK

Bank of England should increase interest rates to head off inflation, warns top economist

Expert warns that rising energy costs could take inflation to 4.5 per cent this year

International Business Times UK

UK 'On Brink' Of Recession — 250,000 People Could Lose Jobs By Mid-2027 Due To Iran War

EY Item Club warns the UK will 'flirt with recession' as the Iran conflict oil shock pushes unemployment to 5.8 per cent and halves GDP growth forecast.

International Business Times UK

IMF US Debt Warning Shows How 'Safety Premium' Collapse Costs UK Homeowners £1,200 More on Mortgages

The rise in US Treasury yields is causing UK mortgage rates to increase by £1,200 annually for homeowners. Learn about the IMF's warnings and what they mean for your financial future.

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The Independent UK

Bank of England chief warns of ‘difficult judgements’ around changes to interest rates

Rates sit at 3.75% but a vote is incoming at the end of April

Evening Standard

Bank will not rush into moving rates despite ‘big energy shock’, says Bailey

The Bank of England boss said the energy shock will push up prices across the world.

Evening Standard

Donald Trump says he's reopening Strait of Hormuz 'permanently' as Britain slams his war as a folly

Iran has blocked attempts by the US president to prize open the key strait in the Gulf

The Independent UK

Reeves to hold talks with US counterpart after hitting out at Trump’s ‘folly’ over Iran war

Rachel Reeves has gone public with her anger and frustration at the ‘folly’ of America’s actions in the Middle East

Evening Standard

Middle East conflict sparked major supply shock, says Bank of England boss

Andrew Bailey made his comments as the UK was given a gloomy economic outlook by the International Monetary Fund.

Evening Standard

Surge pricing could be coming to supermarkets, Bank of England warns as digital displays tested

There is no evidence to suggest that UK supermarkets are using algorithm-driven dynamic pricing at present, but they are testing digital price displays

Evening Standard

Mortgage availability expected by lenders to increase in coming months

The ‘full impact’ of higher costs and mortgage rates is still feeding through, a finance expert said.

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