The Latest Breaking News from The Bank of England

Banks ‘could weather £125bn hit in economic downturn’ despite rising interest rates

The average household will see their monthly interest payments go up by about £220 if they are refinancing during the second half of this year

The Bank of England has warned that households across the U.K. are facing increasing problems from the sharp increase in interest rates but says the country’s biggest banks are resilient enough to offer more help than they were able to before the global financial crisis 15 years ago

Tens of thousands of Londoners are facing annual mortgage bill hikes of more than £12,000, the Bank of England warned on Wednesday.