The Latest Breaking News from The Bank of England

UK borrowing costs have risen rapidly to their highest level since the banking crisis of 2007-08, with implications for the government’s tax and spending plans. Yields on gilts, as UK government bonds are called, have been rising – and these yields are effectively the level of interest that the government…

Sir John Gieve, former Deputy Governor at the Bank of England, said the Chancellor may have to hike taxes or impose some ‘very severe reductions and squeezes’ on public services

High government borrowing costs come amid fears that inflation is creeping up again, which could lead the Bank of England to keep rates on hold

Throughout 2024, many home owners and prospective first-time buyers would have kept a close eye on the Bank of England’s base interest rate. Eventually, the first cut arrived in August (from 5.25% to 5%), followed by another drop to 4.75% in November.

Chancellor in danger of breaking fiscal rules after cost of servicing UK 10-year debt rises to highest level since 2008

High government borrowing costs come amid fears that inflation is creeping up again, which could lead the Bank of England to keep rates on hold

President-elect threatened to use ‘economic force’ to make northern neighbor part of US

Mr Carney was governor of the Bank of England between 2013 and 2020.

The former Governor of the Bank of England is a frontrunner to replace Justin Trudeau as Canadian prime minister