Bank of England holds interest rates at 4.75% but says UK economy stagnating
2 weeks, 6 days ago

Bank of England holds interest rates at 4.75% but says UK economy stagnating

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates have been held at 4.75% following a divided vote among Bank of England policymakers, as they weighed up concerns over a stagnating economy and persistent inflation. Since the November MPC meeting, the growth-inflation trade-off has worsened, which appears to have prompted the split on the committee Matt Swannell, chief economic adviser to EY Item Club Governor Andrew Bailey said the central bank needed to make sure inflation returns to the target level on a “sustained basis”. The Bank’s decision comes a day after policymakers in the US reduced interest rates, but signalled they would be slowing the pace of rate cuts going forward after inflation forecasts were revised higher. “We continue to think there is a good case for steady monetary policy easing next year despite the recent hawkish news from wages and inflation,” said Rob Wood, chief UK economist for Pantheon Macroeconomics.

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History of this topic

RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm
2 weeks, 3 days ago

RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm

Live Mint  

Mumbai, Dec 22 The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. At his last policy announcement, Das said that the growth-inflation dynamic …

Analysis: What does the Bank of England’s interest rate decision mean for mortgages?
2 weeks, 6 days ago

Analysis: What does the Bank of England’s interest rate decision mean for mortgages?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England held …

As the Bank of England holds interest rates, should we fear ‘stagflation’?
Trending News
2 weeks, 6 days ago

As the Bank of England holds interest rates, should we fear ‘stagflation’?

The Independent  

Should “stagflation” be our word of the day? Concern about the other problems might explain why the Bank of England’s committee voted the way it in deciding to hold rates even when other central banks have been cutting. The doves this time were concerned about Britain’s “weakening labour market” – although it would have to weaken a lot for Britain …

UK interest rates held at 4.75% amid ‘heightened economic uncertainty’
2 weeks, 6 days ago

UK interest rates held at 4.75% amid ‘heightened economic uncertainty’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England has …

Bank of England HOLDS interest rates despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Trending News
2 weeks, 6 days ago

Bank of England HOLDS interest rates despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation

Daily Mail  

The Bank of England kept interest rates on hold today despite mounting alarm at the stalling economy. Interest rates, which influence how much banks charge for loans and mortgages, are used as a tool by the central bank to keep inflation at its 2 per cent target level. Most economists had thought the latest data, and the prospect of price …

London markets plunge after Fed decision hammers Wall Street
2 weeks, 6 days ago

London markets plunge after Fed decision hammers Wall Street

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The FTSE 100 tumbled on …

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold
2 weeks, 6 days ago

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold

Associated Press  

LONDON — The U.K.’s central bank warned Thursday of “heightened uncertainty” as it kept interest rates on hold after inflation moved further above target, even at a time when the British economy is flatlining at best. The Bank of England’s nine-member Monetary Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation rising to 2.6%, …

Bank of England set to keep UK interest rates on hold despite paltry economic growth
2 weeks, 6 days ago

Bank of England set to keep UK interest rates on hold despite paltry economic growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The U.K.'s central bank is …

Interest rates live updates: Bank of England verdict due after surprise inflation rise
Top News
2 weeks, 6 days ago

Interest rates live updates: Bank of England verdict due after surprise inflation rise

The Independent  

Chancellor of the exchequer Rachel Reeves said the figures are a ‘reminder that for too long the economy has not worked for working people For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN …

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Top News
2 weeks, 6 days ago

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation

Daily Mail  

The Bank of England is set to keep interest rates on hold today despite mounting alarm at the stalling economy. Interest rates, which influence how much banks charge for loans and mortgages, are used as a tool by the central bank to keep inflation at its 2 per cent target level. Rob Wood, chief UK economist for Pantheon Macroeconomics, said: …

UK interest rates set to be held at 4.75% after inflation rises again
3 weeks ago

UK interest rates set to be held at 4.75% after inflation rises again

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates are expected …

Hawkish cut for Fed as 'foggy night' lies ahead: America's central bank slashes rates for third time this year
3 weeks ago

Hawkish cut for Fed as 'foggy night' lies ahead: America's central bank slashes rates for third time this year

Daily Mail  

America’s central bank last night slashed interest rates for the third time this year but signalled that further cuts in 2025 will be slower than previously thought. The pre-Christmas boost for borrowers in the world’s biggest economy took rates down to a range of 4.25 to 4.5 per cent, a full percentage point lower than where they were in September. …

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent
Top News
3 weeks ago

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent

The Independent  

Chancellor of the exchequer Rachel Reeves said the figures are a ‘reminder that for too long the economy has not worked for working people For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN …

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?
3 weeks ago

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?

Daily Mail  

Inflation in the UK climbed to 2.6 per cent in November, it was revealed today, as the rise in the cost of living accelerated again. James Smith, developed markets economist, UK, at ING, said: 'Our base case is for back-to-back to rate cuts from February onwards, with Bank Rate falling to 3.25 per cent later in the year. While services …

U.K. Inflation rises further above Bank of England's target in November
3 weeks ago

U.K. Inflation rises further above Bank of England's target in November

The Hindu  

Inflation in the U.K. has risen to its highest level since March, driven by an increase in fuel prices last month, official figures showed on Wednesday. Rate-setters had anticipated a pick-up in inflation when the central bank last cut rates in early November as price pressures eased earlier in the year — in September, inflation had fallen to its lowest …

UK inflation increase solidifies expectations interest rates will be kept on hold
3 weeks ago

UK inflation increase solidifies expectations interest rates will be kept on hold

Associated Press  

LONDON — Inflation in the U.K. rose to its highest level in eight months during November, official figures showed Wednesday, a development that has cemented market expectations that the Bank of England will opt against cutting borrowing costs this week. It said stubbornly high inflation in the crucial services sector, which accounts for around 80% of the U.K. economy, and …

Surge in wages means beleaguered borrowers must wait for interest rates cut
Trending News
3 weeks, 1 day ago

Surge in wages means beleaguered borrowers must wait for interest rates cut

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

Bank of England expected to hold interest rates after jump in inflation
3 weeks, 5 days ago

Bank of England expected to hold interest rates after jump in inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

Lower GDP forecast to CRR boost: 6 key takeaways from RBI MPC
1 month ago

Lower GDP forecast to CRR boost: 6 key takeaways from RBI MPC

India Today  

The Reserve Bank of India’s Monetary Policy Committee has decided to keep the key lending rates unchanged for the 11th consecutive time since February 2023. LOWER GDP GROWTH PROJECTIONS The Reserve Bank has slightly reduced its real GDP growth forecast for 2024-25, projecting it at 6.6%. Quarterly projections for GDP growth are as follows: Q3 of 2024-25: 6.8% Q4 of …

RBI keeps key lending rate unchanged at 6.5%, focus remains on tackling inflation
1 month ago

RBI keeps key lending rate unchanged at 6.5%, focus remains on tackling inflation

India Today  

The Reserve Bank of India's Monetary Policy Committee has decided to maintain the status quo on key interest rates for the 11th consecutive time. Consequently, the standing deposit facility stands at 6.25%, and the marginal standing facility and the bank rate at 6.75%," announced RBI Governor Shaktikanta Das during the policy statement. "Tackling inflation is critical because high inflation reduces …

RBI MPC Meeting: What happens if the central bank cuts interest rates tomorrow? D-Street experts weigh in
Trending News
1 month ago

RBI MPC Meeting: What happens if the central bank cuts interest rates tomorrow? D-Street experts weigh in

Live Mint  

RBI MPC Meeting: Reserve Bank of India Governor Shaktikanta Das will unveil the fifth monetary policy of the current financial year 2024-25 on Friday, December 6, after a three-day meeting that began on December 4, 2024. RBI MPC to adopt a ‘balancing act’ in December review India’s GDP growth in the July-September quarter of the current fiscal was below D-Street …

A major bank just cut its mortgage rates by up to 0.39%: Will they fall further?
1 month ago

A major bank just cut its mortgage rates by up to 0.39%: Will they fall further?

Daily Mail  

A major high street bank has announced it will cut mortgage rates by up to 0.39 percentage points. At present, the lowest five-year fix on offer via a major lender is a 4.14 per cent rate with Nationwide Building Society. Speaking to the Global Boardroom conference with the Financial Times, Andrew Bailey confirmed the Bank of England's central forecast of …

UK interest rates to fall more slowly than expected after Budget – OECD
1 month ago

UK interest rates to fall more slowly than expected after Budget – OECD

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates will fall …

UK interest rates ‘to fall more slowly’ after tax rises and spending hikes in Rachel Reeves’ Budget
1 month ago

UK interest rates ‘to fall more slowly’ after tax rises and spending hikes in Rachel Reeves’ Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates will fall more slowly than expected following the …

MPC to keep rates unchanged amid slowing growth, rising inflation
Trending News
1 month, 1 week ago

MPC to keep rates unchanged amid slowing growth, rising inflation

Live Mint  

A shock slowdown and calls for lower interest rates may not convince India's policy rate-setters as they meet this week, as the horse of inflation strays out of the central bank's stable. “With CPI inflation having breached the 6% upper limit of the medium-term range of 2-6% in October 2024, we anticipate a status quo from the MPC in its …

Energy costs push UK inflation to 2.3 percent
1 month, 2 weeks ago

Energy costs push UK inflation to 2.3 percent

China Daily  

Inflation in the United Kingdom increased to 2.3 percent in October, putting pressure on the Bank of England to wait until next year before making additional interest rate cuts. Figures released by the Office for National Statistics, or ONS, on Wednesday showed that surging household energy costs pushed the consumer price index higher, breaking the pattern of declining inflation rates …

Bank of England’s Newest Rate-Setter Shows Dovish Leaning
1 month, 2 weeks ago

Bank of England’s Newest Rate-Setter Shows Dovish Leaning

Live Mint  

-- The Bank of England may cut interest rates faster than markets are betting if the economy weakens, according to its newest rate-setter Alan Taylor. In his first public appearance since joining the Monetary Policy Committee, Taylor told UK lawmakers on Tuesday that higher mortgage costs and a “wait-and-see” approach by consumers and businesses are “weighing on the economy.” “If …

Mortgage rates below 4% disappear: Why are they going up as interest rates fall?
1 month, 3 weeks ago

Mortgage rates below 4% disappear: Why are they going up as interest rates fall?

Daily Mail  

Mortgage rates continue to rise despite the Bank of England cutting interest rates last week. Going up: Mortgage rates are rising because markets now think interest rates will stay higher for longer, with inflation also forecast to remain higher than previously expected Only a couple of months ago, there were more than a dozen banks offering sub-4 per cent rates. …

Bank of England chief economist cautions over global economic ‘disturbances’
2 months ago

Bank of England chief economist cautions over global economic ‘disturbances’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England’s chief …

Bank of England cuts interest rates to 4.75% – but mortgages still set to rise
2 months ago

Bank of England cuts interest rates to 4.75% – but mortgages still set to rise

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Mortgage repayments are set to fall But the Bank’s Monetary …

Worklessness and mass migration make it harder to set interest rates, warns Bank’s chief economist
2 months ago

Worklessness and mass migration make it harder to set interest rates, warns Bank’s chief economist

The Telegraph  

Worklessness and large-scale migration are making it harder to set interest rates, the Bank of England’s chief economist has warned. Huw Pill said problems with the official data on unemployment, combined with big shifts in the working population heralded by a rise in worklessness and record levels of migration, make it difficult to work out how much inflation is coming …

The interest rate cut is good news for mortgage payers – they need more
2 months ago

The interest rate cut is good news for mortgage payers – they need more

The Independent  

After a turbulent few weeks, the Bank of England delivered a soothing balm to Britain’s hard-pressed borrowers with a quarter-point cut in interest rates. The Budget also pushed the City’s interest rate swaps market higher – and it is this rather than base rates that governs the price of most popular types of mortgage: two or five year fixes. “Borrowers …

Average tracker mortgage payments will fall by nearly £30
2 months ago

Average tracker mortgage payments will fall by nearly £30

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Someone on a standard variable rate mortgage will see …

Bank of England cuts interest rate to 4.75% as UK inflation drops, but economic uncertainty looms
Top News
2 months ago

Bank of England cuts interest rate to 4.75% as UK inflation drops, but economic uncertainty looms

Firstpost  

From the start of the year to September, UK inflation stood at 1.7 per cent, its lowest level since April 2021 and below the central bank’s target rate of 2 per cent The Bank of England cut its main interest rate by a quarter of a percentage point on Thursday after inflation across the UK fell below its target rate …

How will the interest rate cut affect you? From inflation to mortgages
2 months ago

How will the interest rate cut affect you? From inflation to mortgages

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. High interest rates encourage saving because people get a better return for the money …

Boost for Brits as Bank of England trims interest rates from 5% to 4.75%... but will hopes of 'aggressive' cuts be dashed by Labour's big-spending Budget?
Top News
2 months ago

Boost for Brits as Bank of England trims interest rates from 5% to 4.75%... but will hopes of 'aggressive' cuts be dashed by Labour's big-spending Budget?

Daily Mail  

The Bank of England cut interest rates today - amid fears the big-spending Budget will keep borrowing costs higher in future. Tim Moore, economics director at S&P Global Market Intelligence, said: 'October data signalled another slowdown in output growth across the service sector as heightened business uncertainty and concerns about the general UK economic outlook had an adverse impact on …

Brits hope for mortgage relief with Bank of England poised to cut interest rates TODAY… but fears big-spending Budget could keep borrowing costs higher for years
2 months ago

Brits hope for mortgage relief with Bank of England poised to cut interest rates TODAY… but fears big-spending Budget could keep borrowing costs higher for years

Daily Mail  

The Bank of England is poised to cut interest rates today - but could signal that the big-spending Budget will keep borrowing costs higher in future. Threadneedle Street's decision could be swayed by grim figures this week showing growth in the UK services sector slowing to its lowest rate in nearly a year. Tim Moore, economics director at S&P Global …

Bank of England cuts UK interest rates again despite modest budget-related inflation spike
2 months ago

Bank of England cuts UK interest rates again despite modest budget-related inflation spike

Associated Press  

LONDON — The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after inflation across the U.K. fell significantly, relieving some pressure on borrowers who have faced elevated mortgage and loan costs. Though inflation has fallen below the bank’s target of 2%, Governor Andrew Bailey cautioned that interest rates would …

Bank of England poised to cut UK interest rates for second time this year
Top News
2 months ago

Bank of England poised to cut UK interest rates for second time this year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK borrowing costs are set …

UK's central bank cuts interest rate
2 months ago

UK's central bank cuts interest rate

China Daily  

By Earle Gale in London | chinadaily.com.cn | Updated: 2024-11-07 22:35 Pedstrians pass the Bank of England, Britain's central Bank, in London, on November 7, 2024. The United Kingdom's central bank, the Bank of England, or BoE, cut its base interest rate on Thursday, to 4.75 percent from 5 percent, in a move seen as a declaration that rampant inflation …

Bank of England poised to cut UK interest rates for second time this year
2 months ago

Bank of England poised to cut UK interest rates for second time this year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK borrowing costs are set …

Something to cheer us all with rates set be slashed on both sides of the Atlantic: ALEX BRUMMER
2 months ago

Something to cheer us all with rates set be slashed on both sides of the Atlantic: ALEX BRUMMER

Daily Mail  

Coming hot on the heels of two momentous events – and I don’t mean Halloween and Guy Fawkes – scant attention is being paid to interest rates. Both the Bank of England and the US Federal Reserve are odds on to cut official interest rates. Prediction: Both the Bank of England and the US Federal Reserve are odds on to …

Bank of England rate cut expected despite ‘fiscal loosening’ of Budget
2 months, 1 week ago

Bank of England rate cut expected despite ‘fiscal loosening’ of Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

Autumn Budget 2024: What will it mean for my mortgage?
2 months, 1 week ago

Autumn Budget 2024: What will it mean for my mortgage?

The Independent  

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Mortgage approvals jump but housing market on ‘tenterhooks’ ahead of Budget
2 months, 1 week ago

Mortgage approvals jump but housing market on ‘tenterhooks’ ahead of Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The number of mortgage approvals …

UK interest rates will drop to 2.75 per cent, Goldman Sachs predicts
2 months, 2 weeks ago

UK interest rates will drop to 2.75 per cent, Goldman Sachs predicts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates will almost …

Reeves’s Budget to keep interest rates higher for longer, say economists
2 months, 2 weeks ago

Reeves’s Budget to keep interest rates higher for longer, say economists

The Telegraph  

Rachel Reeves’s plans for increased borrowing and spending will force the Bank of England to hold interest rates higher for longer, leading economists have said. Pantheon Macroeconomics said that rates would be 0.25 to 0.5pc percentage points higher during the next financial year as a result of the Chancellor’s looser fiscal policy. Economists Robert Wood and Elliott Jordan-Doak said: “The …

European Central Bank lowers interest rate to 3.25% in third cut this year
2 months, 3 weeks ago

European Central Bank lowers interest rate to 3.25% in third cut this year

Daily Mail  

Rate cut: The ECB has lowered its benchmark borrowing rate to 3.25% - piling pressure on the Bank of England to move faster in the UK The European Central Bank has cut interest rates for the third time this year. The Frankfurt-based institution lowered its benchmark borrowing rate to 3.25 per cent. The Bank of England approved its first rate …

Interest rate cut ‘nailed on’ after UK inflation falls to three-year low
2 months, 3 weeks ago

Interest rate cut ‘nailed on’ after UK inflation falls to three-year low

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A fall in UK inflation …

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