The Latest Breaking News from Bank of England

Anticipated increase in interest rates will turn the screw on mortgage holders and businesses

UK inflation hit a 41-year high in October as gas prices soar

Inflation figures are released each month by the Office for National Statistics (ONS) to show how much the prices of everyday goods and services have increased over the last year

The Federal Reserve's aggressive campaign against high inflation dominated global financial markets this year. Starting this week, the action shifts to Europe, where inflation could prove stickier and harder to tame. That shift is likely to reverse some of the key market dynamics of 2022, most significantly a superstrong dollar.

More needs to be done to ensure that the non-bank financial sector does not pose a threat to the UK’s financial stability, Bank says

Central bank to examine shadow banking sector amid fears it could put UK financial stability at risk

Four million mortgage borrowers set to see monthly payments jump in 2023

This could mean that costs surge by £3,000 a year for many households

Interest rates could shoot to 3.5 per cent from next week following a meeting of the Monetary Policy Committee