The Latest Breaking News from Interest Rates

Chancellor Nadhim Zahawi said to be on holiday as Bank of England adds to dire economic outlook

The Bank of England has raised its base rate by 0.5 percentage points, the largest single upward jump in 27 years. It takes the base rate to 1.75%, its highest level since 2008. This latest interest rate hike will affect personal finances and reflects the Bank’s efforts to control rampant…

The Bank of England is expected to hike interest rates again this afternoon - from 1.25% to 1.75% - in what would be the biggest rate rise announced by the central bank in almost 30 years

The Bank of England is likely to announce its biggest interest rate increase in more than 27 years as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit households

UK to enter ‘deep and protracted’ recession, Bank warns

It could be the biggest change in 30 years, piling on bills for millions of people

Increase puts the banks’ variable interest rates at highest in three years with Westpac and NAB yet to respond to official cash rate hike

Markets expect 0.5 percentage-point rise for first time since independence as inflation rises