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The Latest Breaking News from The Bank of England

Why has inflation risen and what does it mean for households?

July’s inflation rate of 3.8% means that if an item cost £100 a year ago, it would now cost £103.80.

Evening Standard

UK inflation rises by more than expected to 3.8% amid higher food prices

Fuel and air fares also pushed up annual July rate, making interest rate cuts less likely this year

The Guardian - UK

UK consumer sentiment recovers to strongest level since October

The CSI, which surveys more than 1,500 households, reported a reading of 47.0 for August, rising from 45.1 in July.

Evening Standard

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Reeves concedes Government has ‘more to do’ as unemployment at four-year high

The Chancellor insisted Labour had been ‘creating more jobs’ since entering office despite vacancy numbers declining over the last quarter.

Evening Standard

Santander mortgage cap jumps by as much as 24% as bank eases lending rules

Some higher-earning couples with smaller deposits could borrow extra £130,000 as a result of overnight changes

The Guardian - UK

FTSE 100 climbs ahead of jobs data

Upcoming figures on the UK jobs market and average earnings will be watched closely, not least by the Bank of England.

Evening Standard

Jobs market cools further over economic concerns and rising costs

Figures showed growth in starting salaries also slowed to its lowest level for more than four years as firms tightened their recruitment budgets.

The Independent UK

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Embattled Rachel Reeves urges public to be patient with Labour on rescuing economy

Labour chancellor has been warned of a £50bn black hole in the government’s finances and that inflation will see consumers hit with higher prices this winter

The Independent UK

London first-time buyers paying £240 less a month on mortgages than this time last year

Mortgage payments had dropped even before today’s rates changes by the Bank of England

Evening Standard

Risk of ‘persistent inflation’ could affect rate cuts, says Bank economist

Huw Pill, chief economist at the Bank of England, stressed there has been ‘progress’ in bringing inflation down in recent months.

Evening Standard

Surge in household costs puts Reeves’s economic growth plan at risk

Labour prime minister Keir Starmer has pledged that plans to be set out in the Budget this autumn will ensure that ‘people feel better off’

The Independent UK

Bank of England Cuts Interest Rates to 4% — Is This the Calm Before the Storm?

The Bank of England has cut interest rates to 4% for the first time since 2023, signalling relief for borrowers but uncertainty ahead amid persistent inflation and slow growth.

International Business Times UK

Stocks mixed but pound up after Bank of England rate cut

The FTSE 100 index closed down 63.54 points, 0.7%, at 9,100.77.

Evening Standard

Fact check: Bank has held rates four out of nine times since Labour took power

The Bank of England Monetary Policy Committee held interest rates unchanged at several of its meetings since last year’s general election.

The Independent UK

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Evening Standard

Interest rates: Why have they been cut and what does it mean?

Here the PA news agency looks at what the decision means and what the Bank expects to happen to the economy.

Evening Standard

Bank lowers UK interest rates but warns ‘uncertainty’ about future cuts

Governor Andrew Bailey described it as a ‘finely balanced decision’ after MPC members were forced to hold a second vote.

Evening Standard

Reeves’ Nics hike stunting growth and pushing up food prices, Bank says

Higher labour costs in the food industry and supermarkets have pushed up costs for shoppers, the Bank of England said.

The National (Scotland)

UK interest rates slashed to lowest level in two years

UK interest rates have been cut to their lowest level since March 2023, despite the Bank of England predicting a sharp rise in inflation amid…

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Evening Standard

Average tracker mortgage borrower set to see £29 fall in monthly payments

The Bank of England base rate was cut from 4.25% to 4% on Thursday, reducing costs for some mortgage borrowers.

The Independent UK

Interest rates cut to 4% as UK inflation picks up

The cut came after the Bank’s rate-setting committee was forced to take a second vote for the first time in its history.

Evening Standard

Interest rates cut to 4% but Rachel Reeves’ hopes of easing cost-of-living crisis hit by inflation jump blow

The reduction is the fifth over the past year and brings borrowing costs down to their lowest since March 2023

The Independent UK

The Bank of England cuts its main interest rate to 4%, the lowest level since March 2023

The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy

The Guardian - UK

Another Bank of England rate cut this year less likely given inflation fears and split vote – as it happened

Monetary Policy Committee has cut UK interest rates today, in a deeply split decision, but City pricing suggests another cut in 2025 is no longer fully priced in

The Guardian - UK

Bank of England poised to cut interest rates

Quarter-point reduction expected, with City investors predicting a three-way split among rate setters

International Business Times

Bank Of England Set To Cut Rate As UK Economy Weakens

The Bank of England is widely expected to cut its key interest rate Thursday, with policymakers mindful of US tariffs and their potential risks to an already-struggling UK economy.

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