The Latest Breaking News from Bank of England

A report set to be considered by councillors lays out the stark position

The rising cost of living is biting businesses and households around the world. Editors from across The Conversation’s international network have asked local academic experts to explain how their countries and regions are tackling this issue, as well as the 2023 outlook for prices and interest rates where they live.

All the important dates for increases to wages, benefits, pensions, cost of living payments and more

Debt charity warned of 'a real danger that people will increasingly be turning to credit to meet essential spending into the new year and beyond'

Around £1.2 billion was borrowed on credit cards in November, marking the highest amount since March 2004.

Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation.

IMF director Kristalina Georgieva said simultaneous contractions in three major economies—the U.S., the EU, and China—will be the driving forces behind a global recession in 2023.

Austerity in the UK is here to stay. The Bank of England has warned that the country is facing the longest recession since records began, predicting that the economic slump will extend well into 2024. At the same time, the most recent budget has been called austerity 2.0 by companies,…

Scots on fixed rate deals that expire next year are likely to be hit by much higher interest rates

Britain’s recession, however, will be relatively mild, although such forecasting is a mug’s game

Last year may have been bad, but at least we know what to expect in the coming months