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The Latest Breaking News from The Bank of England

Rishi Sunak warned over possible UK recession in 2024

High inflation likely to push interest rates above 5% and force up mortgage and loan payments just ahead of election

The Guardian - UK

The Guardian view on a death of consensus: politicians are having different nightmares

Editorial: Interventions from the Tory chancellor and his Labour shadow spell the end of a period of economic agreement

The Guardian - UK

UK bonds are in meltdown again – what does that mean for pensions? Expert Q&A

UK government debt prices have taken an unnerving journey south in the past few days. The closely watched ten-year bond has now hit a yield of 4.3%, taking it within a fraction of the level that caused a crisis in autumn 2022.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

How homeowners can escape huge mortgage hikes as lenders raise rates

Britain’s biggest building society Nationwide raised its mortgage rates on Friday

The Independent UK

UK's Treasury chief accepts that recession may be necessary to get inflation down

Britain’s Treasury chief says he would be prepared to see the British economy slip back into recession if further interest rate hikes are necessary to bring down inflation

The Independent UK

The sorry state of the Bank of England’s battle with price hikes

City comment: At least the Bank’s old approach was consistent

Evening Standard

OPINION - The Standard View: Jeremy Hunt speaks the uncomfortable truth: inflation is the great enemy

It is not something you hear a Chancellor say every day, not least 12 to 18 months out from a general election. Asked if he was “comfortable with the Bank of England doing whatever it takes to bring down inflation, even if that potentially would precipitate a recession”, Jeremy Hunt…

Evening Standard

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Tory Jeremy Hunt backs interest hikes pain for Brits - even if it risks recession

The Bank of England has hiked interest rates repeatedly to tackle inflation - in a hit to mortgage payers - and experts have warned they could raise them higher than the current 4.5% next month

Daily Mirror

Hunt will back more interest rate rises even if they push UK to recession

Chancellor will back Bank of England’s decisions because ‘inflation is a source of instability’

The Guardian - UK

Partygate: Nadine Dorries suggests Boris Johnson Chequers records might have wrong names and dates – as it happened

Former culture secretary says prime ministerial diaries ‘are frequently wrong’

The Guardian - UK

Chancellor backs interest rate hikes even if they push UK into recession

Chancellor Jeremy Hunt has backed interest rate hikes being used to calm soaring inflation even if they increase the risk of pushing the UK into…

The National (Scotland)

Jeremy Hunt backs interest rate hikes even if they cause recession; UK retail sales jump – as it happened

Chancellor says “only path to sustainable growth” is to bring down high prices behind cost of living crisis, as mortgage rates climb

The Guardian - UK

Jeremy Hunt ‘comfortable’ with recession if needed to cut inflation and stabilise economy

There are fears the bank’s Monetary Policy Committee may have to raise interest rates to as high as 5.5 per cent to tackle inflation

Evening Standard

Top US professor issues currency advice to SNP for independent Scotland

A LEADING law professor has said that an independent Scotland would need its own currency and central bank ...

The National (Scotland)

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The Conversation

Why profits, not pay, have caused the cost of living crisis

The Bank of England accompanied its most recent UK interest rate hike – the 12th in a row – with a warning that UK price inflation is likely to be higher for longer than expected due to soaring food costs. The bank has been hiking rates since December 2021 to…

Daily Record

How inflation drop to 8.7% will impact your household budget, savings and mortgages over next few months

Some monthly mortgage repayments are expected to increase by around £200 a month this year.

Daily Mirror

2% inflation drop won't stop people relying on foodbanks, money expert warns

Inflation has dropped by two per cent, heralding a long-waited change in the right direction, but Tom Francis, head of advice from Octopus Money, has warned that it is far from the beginning of the end

The Guardian - UK

Failure to grasp UK inflation drivers will continue to keep prices high

Energy prices have fallen, and farming and manufacturing costs have eased, so why are food prices still accelerating?

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Evening Standard

Investors take fright as inflation shock fuels rate-rise fears

Core inflation rose to its highest level in 30 years

Daily Mirror

Homeowners' mortgage woe as interest rates tipped to rise AGAIN despite inflation falling

Today's inflation figure is higher than predicted as many believed the inflation rate would drop as low as 8.2% - while it may sound like good news, experts have issued a warning

Manchester Evening News

Rate of inflation falls to lowest level in more than a year but prices are still going up

The decline in inflation is said to have been driven by gas and electricity costs remaining stable

The Guardian - UK

UK interest rates forecast to jump above 5% this year after higher-than-expected inflation – as it happened

Rolling, live coverage of business, economics and financial markets as consumer price index inflation reaches 8.7%, well above forecasts

The Guardian - UK

Wednesday briefing: Why the UK’s inflation rate just came down to 8.7%

In today’s newsletter: It’s good news – but the figure is still a bit higher than expected, even as energy costs decline. As the latest data is released, we look at its ongoing impact – and what it means for you

Daily Mirror

Inflation falls sharply to 8.7% as price rises finally ease - what it means for you

Inflation finally falls below double digits dropping by 1.4% to 8.7% according to the Office for National Statistics (ONS)

The Independent UK

Bank of England admits it made errors in UK inflation forecasts

Governor Andrew Bailey insisted inflation has ‘turned the corner’, ahead of official figures on Wednesday.

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