The Latest Breaking News from Bank of England

The Bank of England’s top economists faced questions on interest rates on Tuesday, 23 May.

‘We can afford to take more time to get inflation back down,’ says Andy Haldane

The Commons Treasury Select Committee held a rare sitting outside Parliament - and went to Threadneedle Street in the heart of the City of London to tackle the Governor and his deputies

Bailey said the only way to have prevented soaring inflation would have been to hike rates “well into double-digits” at the height of the pandemic

The Bank of England increased its base rate yet again in May 2023 to 4.5%, pushing borrowing costs to the highest level in almost 15 years. More than 6 million UK households will now see their mortgage payments increase by the end of 2025, with more than 4 million experiencing…

A top U.K. economist ruffled feathers with tactless remarks last month about inflation's primary cause.

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.

The UK’s new 4.5% base rate may seem high, but it’s actually quite low compared to the 1980s and 1990s

Yesterday, the Bank of England increased its base interest to 4.5% from 4.25% - which was the 12th rise since December 2021 when the rate was 0.1%

Just a small percentage rise can have a lasting knock-on effect, say experts

The Bank of England has hiked the interest rate to 4.5%