The Latest Breaking News from Bank of England

Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

Broadbent pointed to supply chain disruption and the War in Ukraine as the factors that best explain the cost-of-living crisis

‘Pretty much nailed on’ that the rate will halve in next six months, according to Andy Haldane

Banks have been slammed over the last year for their slow response in increasing their interest rates for savers alongside the Bank of England rises

The Bank of England has so far failed to return the annual rate to its 2% target – so what are the options?

Increase to 4.5% will be last rise in current cycle, former rate-setter Michael Saunders predicts

The Office for National Statistics said we last month paid 19% more on a weekly shop, the highest since 1977. Some items have gone up seven times faster than average wages

Annual rate still above 10% as grocery prices soar, leaving MPC on course for another increase

The continued high level of inflation is likely to keep pressure on the Bank of England regarding interest rates

Inflation remains higher than experts predicted as food and drink prices continue to soar.

Britain now has Western Europe's highest rate of consumer price inflation after it fell by less than expected in March to 10.1% in March from February's 10.4%, official data showed on Wednesday. Economists polled by Reuters had forecast that the annual CPI rate would drop to 9.8% in March, moving…