Interest rates held – but a small early interest rate cut could be on the cards to help borrowers
9 months ago

Interest rates held – but a small early interest rate cut could be on the cards to help borrowers

The Independent  

Is there light at the end of the tunnel for Britain’s borrowers, who have endured an extended spell of high interest rates? However, it clears the way for a modest easing of the current “restrictive” policy that is squeezing Britain’s economy even as it struggles to escape last year’s shallow recession. Chancellor Jeremy Hunt’s latest Budget is expected to grow the economy a little – a quarter per cent by the BoE’s estimation – but the MPC isn’t too worried that his national insurance cut might reignite inflation, not least because his controversial fuel duty freeze will work to keep it in check. The MPC still expects inflation measured by the consumer prices index to fall below its 2 per cent target in the second quarter of this year but continues to fear a rise later on. But for borrowers desperately seeking relief, the MPC recognised that its policy “could remain restrictive” even if rates were cut, “given that it was starting from an already restrictive level”.

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History of this topic

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

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold
5 days, 7 hours 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%, …

Interest rates live updates: Bank of England verdict due after surprise inflation rise
Top News
5 days, 8 hours 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
5 days, 9 hours 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: …

Hawkish cut for Fed as 'foggy night' lies ahead: America's central bank slashes rates for third time this year
5 days, 20 hours 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. …

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?
6 days, 8 hours 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 …

UK inflation increase solidifies expectations interest rates will be kept on hold
6 days, 10 hours 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
1 week 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
1 week, 4 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 …

UK interest rates to fall more slowly than expected after Budget – OECD
2 weeks, 6 days 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 …

MPC to keep rates unchanged amid slowing growth, rising inflation
Trending News
3 weeks, 1 day 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 …

It’s Reasonable to Consider Rate Cut Next Month, Fed’s Kashkari Says
4 weeks ago

It’s Reasonable to Consider Rate Cut Next Month, Fed’s Kashkari Says

Live Mint  

-- Federal Reserve Bank of Minneapolis President Neel Kashkari said it is still appropriate to consider another interest-rate cut at the central bank’s December meeting. “It’s still a reasonable consideration,” Kashkari said Monday on Bloomberg Television in response to a question about whether policymakers should reduce borrowing costs by a quarter point at their last meeting of the year. “Right …

Worklessness and mass migration make it harder to set interest rates, warns Bank’s chief economist
1 month, 2 weeks 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
1 month, 2 weeks 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 …

Bank of England cuts interest rate to 4.75% as UK inflation drops, but economic uncertainty looms
Top News
1 month, 2 weeks 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 …

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
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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
1 month, 2 weeks 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 …

Something to cheer us all with rates set be slashed on both sides of the Atlantic: ALEX BRUMMER
1 month, 2 weeks 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
1 month, 3 weeks 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?
1 month, 3 weeks 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
1 month, 3 weeks 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 …

Reeves’s Budget to keep interest rates higher for longer, say economists
2 months 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 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, 1 week 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 …

Rachel Reeves warned potential £50bn spend could cause interest rates to surge
2 months, 2 weeks ago

Rachel Reeves warned potential £50bn spend could cause interest rates to surge

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. But the Treasury paper warns a “fiscal loosening” of just …

Bank of England could be ‘more aggressive’ with interest rate cuts, says governor
2 months, 2 weeks ago

Bank of England could be ‘more aggressive’ with interest rate cuts, says governor

The Independent  

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Could the conflict in the Middle East have a knock-on effect on interest rates?
2 months, 3 weeks ago

Could the conflict in the Middle East have a knock-on effect on interest rates?

The Independent  

The pound fell sharply on Thursday after Andrew Bailey, the governor of the Bank of England, said in a newspaper interview that the Bank could become “a bit more aggressive” in cutting interest rates if inflation remains subdued. He said “the economy has come through the shocks of the last five years better than many of us feared”, but warned …

Inflation in Europe falls below 2% and opens the way for faster rate cuts
2 months, 3 weeks ago

Inflation in Europe falls below 2% and opens the way for faster rate cuts

The Independent  

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Bank says interest rates could be cut ‘gradually’ after holding at 5%
3 months ago

Bank says interest rates could be cut ‘gradually’ after holding at 5%

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 …

UK interest rates live: Bank of England holds at 5% after shock US Fed cut
3 months ago

UK interest rates live: Bank of England holds at 5% after shock US Fed cut

The Independent  

✕ Close Inflation set to remain above 2% target in August, say experts Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates …

UK interest rates kept at 5% as Bank of England says ‘vital’ inflation stays low
3 months ago

UK interest rates kept at 5% as Bank of England says ‘vital’ inflation stays 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 The Bank of England has …

Bank of England widely expected to hold interest rates despite big US Fed cut
3 months ago

Bank of England widely expected to hold interest rates despite big US Fed cut

The Independent  

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Inflation steady – but chances of another rate cut are slim
3 months ago

Inflation steady – but chances of another rate cut are slim

The Independent  

Let’s start with the good news: August’s inflation number came in unchanged at 2.2 per cent. While that is higher than the Bank of England’s 2 per cent target, it is in line with City forecasts and beneath the 2.4 per cent the Bank itself had predicted at this stage. One thing to watch is the cost of services – …

Bank of England poised to hold interest rates at 5%, economists say
3 months ago

Bank of England poised to hold interest rates at 5%, economists say

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 …

Interest rate cuts push house prices to a two-year high – but there is trouble brewing in the market
3 months, 2 weeks ago

Interest rate cuts push house prices to a two-year high – but there is trouble brewing in the market

The Independent  

The housing market is getting toasty. The latest figures issued by lender Halifax found prices increased by 0.3 per cent in August, bringing them to a two year high. Guy Gittins, the CEO off Foxtons, said: “We’re seeing more enquiries and more offers made, with buyers also acting with greater confidence since interest rates were cut at the start of …

Inflation rises to 2.2% for first time this year in blow to interest rate cut next month
4 months, 1 week ago

Inflation rises to 2.2% for first time this year in blow to interest rate cut next month

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. However, despite the smaller than …

Slowdown in wage growth ‘clears the path for more interest rate cuts’ by BoE this year
4 months, 1 week ago

Slowdown in wage growth ‘clears the path for more interest rate cuts’ by BoE this year

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “This lends some support to our forecast that the Bank …

Bank of England lowers benchmark rate to 5 pct, first cut in 4 years
4 months, 3 weeks ago

Bank of England lowers benchmark rate to 5 pct, first cut in 4 years

China Daily  

LONDON -- The Bank of England has voted to cut its benchmark interest rate to five percent, the United Kingdom's central bank said in a statement on Thursday. At a meeting on Wednesday, the BoE's Monetary Policy Committee voted by a majority of 5-4 to reduce the interest rate by 0.25 percentage point, to 5 percent. This is BoE's first …

Bank of England lowers benchmark rate to 5 pct, first cut in 4 years
4 months, 3 weeks ago

Bank of England lowers benchmark rate to 5 pct, first cut in 4 years

China Daily  

LONDON -- The Bank of England has voted to cut its benchmark interest rate to five percent, the United Kingdom's central bank said in a statement on Thursday. At a meeting on Wednesday, the BoE's Monetary Policy Committee voted by a majority of 5-4 to reduce the interest rate by 0.25 percentage point, to 5 percent. This is BoE's first …

FTSE 100 tumbles on Bank of England’s cautious tone after rate cut
4 months, 3 weeks ago

FTSE 100 tumbles on Bank of England’s cautious tone after rate 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 FTSE 100 suffered a …

Bank of England interest rate cut joy for mortgage holders as Rachel Reeves blames mini-Budget for inflation - UK politics live
4 months, 3 weeks ago

Bank of England interest rate cut joy for mortgage holders as Rachel Reeves blames mini-Budget for inflation - UK politics live

The Independent  

✕ Close Rachel Reeves admits taxes will rise in first Budget 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 …

Expert warning to savers after Bank of England base rate cut
4 months, 3 weeks ago

Expert warning to savers after Bank of England base rate cut

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

In a first since pandemic, Bank of England lowers key interest rates
4 months, 3 weeks ago

In a first since pandemic, Bank of England lowers key interest rates

Firstpost  

The Bank of England, in a statement, said its policymaking panel backed a quarter-point reduction in its main interest rate to 5 per cent, from the 16-year high of 5.25 per cent A man walks up the stairs in from of the Bank of England in London. The Bank of England has cut interest rates for the first time since …

Bank of England lowers its main interest rate by 0.25%, to 5%, its first cut in over 4 years
4 months, 3 weeks ago

Bank of England lowers its main interest rate by 0.25%, to 5%, its first cut in over 4 years

Associated Press  

LONDON — The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020 as inflationary pressures in the economy have eased. “Inflationary pressures have eased enough that we’ve been able to cut interest rates today,” said Bank Gov. Ensuring low and stable inflation is the best thing we can …

Why the Bank of England has finally cut rates – but might not rush to do it again
4 months, 3 weeks ago

Why the Bank of England has finally cut rates – but might not rush to do it again

The Telegraph  

This is the most cautious rate cut the Bank of England could possibly have made. Five members of the Monetary Policy Committee, including Andrew Bailey, the Governor, voted to cut rates to 5pc. Since the Old Lady of Threadneedle Street was granted independence to set rates in 1997, it has never held borrowing costs at the peak for longer than …

Interest rates should stay on hold this summer, says Bank of England official
5 months, 2 weeks ago

Interest rates should stay on hold this summer, says Bank of England official

The Telegraph  

Some economists have been calling on the Bank to cut rates for months, although Bank forecasts suggest price rises are likely to pick up in the second half of this year. “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably.” He voted to leave interest rates on hold at the Bank of …

Bank of England keeps main interest rate at 16-year high of 5.25% despite inflation fall
6 months ago

Bank of England keeps main interest rate at 16-year high of 5.25% despite inflation fall

Associated Press  

LONDON — The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25% even though inflation has fallen to its target of 2%, with several policymakers warning that a premature cut could stoke another bout of price rises. It said the decision was, as always, based on achieving the 2% inflation target “sustainably in …

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