At 5%, BoE hikes rates to 15-year high in fight against inflation; check details
1 year, 6 months ago

At 5%, BoE hikes rates to 15-year high in fight against inflation; check details

Live Mint  

The Bank of England on June 22 lifted its key interest rate by a half-point to five per cent or 50 basis points to tackle stubbornly high UK inflation. Britain remains an outlier in the Group of Seven nations, with consumer prices rising four times the BOE’s two per cent target in May and more than double the rate in the US. Last month, the central bank estimated that inflation would fall to just over 5 per cent by the end of this year and be below its 2 per cent target in early 2025. The BoE began lifting its key interest rate from a record low of 0.1 per cent at the end of 2021, with inflation starting to rise as economies slowly emerged from lockdowns.

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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, 8 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, 10 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, 11 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, 12 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: …

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent
Top News
6 days, 1 hour 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?
6 days, 11 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 …

U.K. Inflation rises further above Bank of England's target in November
6 days, 11 hours 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
6 days, 13 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 …

Energy costs push UK inflation to 2.3 percent
1 month 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 …

UK inflation hits six-month high of 2.3% on high energy bills; BoE stresses on gradual rate cuts
1 month ago

UK inflation hits six-month high of 2.3% on high energy bills; BoE stresses on gradual rate cuts

Live Mint  

British inflation jumped by more than expected last month to rise back above the Bank of England's 2% target and underlying price growth gathered speed too, showing why the BoE is moving cautiously on interest rate cuts. Consumer prices rose by an annual 2.3% in October, pushed up almost entirely by an increase in regulated domestic energy tariffs, after a …

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 …

BOE Likely to Cut Rates Amid Budget, Trump’s Election
1 month, 2 weeks ago

BOE Likely to Cut Rates Amid Budget, Trump’s Election

Bloomberg  

00:00 All of the economists in our survey expect a quarter point cut today. Ever since Rachel Reeves sat down from her speech, you saw the gilt market reaction because this is the biggest fiscal loosening in decades. But also Jp morgan Asset Management's Karen Ward saying that if there is a fiscal response to Trump's tariffs, then actually that …

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 …

Inflation set to stay above 2% for next four years, says OBR
1 month, 3 weeks ago

Inflation set to stay above 2% for next four years, says OBR

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 inflation is set to …

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 …

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  

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. Please try again later {{ …

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 …

Inflation climbs above Bank of England target in first rise of 2024
4 months, 1 week ago

Inflation climbs above Bank of England target in first rise of 2024

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 Inflation has risen for the …

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 …

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 …

UK inflation stays at 2% target in June, leaving rate cut on a 'knife edge'
5 months, 1 week ago

UK inflation stays at 2% target in June, leaving rate cut on a 'knife edge'

Hindustan Times  

Inflation in the U.K. held steady at the Bank of England's target rate of 2% in the year to June, official figures showed Wednesday, in a development that could be enough for policymakers to cut borrowing costs next month. Grocery price inflation fell to its lowest level since September 2021 in a further sign of easing cost pressures, ahead 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 …

UK inflation rate back down to 2%
6 months ago

UK inflation rate back down to 2%

China Daily  

FILE PHOTO: A tourist shelters from the rain under an Union Jack umbrella near the Bank of England in the City of London financial district in London, Britain, February 13, 2024. The United Kingdom's ruling Conservative Party got some rare good news on Wednesday, when the country's inflation rate eased back down to the Bank of England's 2 percent target …

Inflation drops to Bank of England’s 2% target for first time in almost three years
6 months ago

Inflation drops to Bank of England’s 2% target for first time in almost three years

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. Read our privacy policy Inflation has fallen back to the 2 per cent target …

Stock market today: Global stocks are mixed after Wall Street edges to more records
6 months ago

Stock market today: Global stocks are mixed after Wall Street edges to more records

Associated Press  

HONG KONG — World stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession. In London, the FTSE 100 lost 0.2% to 8,177.86 after data showed that British inflation fell to the central bank’s 2% target for the first time in nearly three …

With election looming, UK’s governing Conservatives seize on inflation fall to 2% target
6 months ago

With election looming, UK’s governing Conservatives seize on inflation fall to 2% target

Associated Press  

LONDON — Inflation in the U.K. returned to the Bank of England’s target rate of 2% for the first time in nearly three years, official figures showed Wednesday, a development that was seized on by the governing Conservative Party as evidence that its economic plan is “working” ahead of the July 4 election. But Conservative Prime Minister Rishi Sunak hailed …

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits
6 months, 3 weeks ago

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits

Live Mint  

-- Australia’s inflation is showing persistent strength and weighing heavily on the finances of some households, a senior Reserve Bank official said, highlighting the limits to further interest-rate increases. “The board are absolutely focused on the fact that inflation is clearly still above the target band,” RBA Assistant Governor Sarah Hunter said at a conference in Sydney on Thursday, referring …

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA
6 months, 3 weeks ago

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA

ABC  

In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. According to the Australian Bureau of Statistics, an underlying measure of inflation — called "trimmed mean" inflation — also picked up again in April, from 4 per cent to 4.1 per cent. "It does not appear that the RBA …

UK inflation - live: Tories call for Bank of England to cut interest rates despite market gloom over rising prices
7 months ago

UK inflation - live: Tories call for Bank of England to cut interest rates despite market gloom over rising prices

The Independent  

✕ Close Hunt attacks Labour and says he refutes 'myths' the economy is worse under Tories 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 …

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4
7 months ago

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4

Associated Press  

LONDON — Inflation in the U.K. fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills, official figures showed Wednesday. “While it’s clearly good news headline inflation is back to normal levels, it is disappointing that price pressures haven’t fallen further and that measures of services inflation are proving …

Bank of England will cut interest rates in August, says Goldman Sachs
7 months ago

Bank of England will cut interest rates in August, says Goldman Sachs

The Telegraph  

Thanks for joining me. 5 things to start your day 1) Britain’s third new nuclear power station to be built in Anglesey | New North Wales site expected to generate 7pc of the UK’s electricity 2) Sunak and Hunt to press ahead with tax cuts in defiance of IMF warnings | IMF warns next PM faces ‘tough choices’ despite upgrading …

UK inflation predicted to drop close to Bank of England’s 2% target
7 months ago

UK inflation predicted to drop close to Bank of England’s 2% target

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. Please try again later {{ …

British economy rebounds strongly in first quarter of the year, ending ‘technical recession’
7 months, 2 weeks ago

British economy rebounds strongly in first quarter of the year, ending ‘technical recession’

Associated Press  

LONDON — The British economy bounced back strongly in the first three months of the year, bringing to an end to what economists termed a “technical recession”, official figures showed Friday. The Bank of England, like the U.S. Fed and other central banks around the world, raised interest rates aggressively in late 2021 from near zero to counter price rises …

Bank of England holds fire on interest rates – but good news is coming for homeowners
7 months, 2 weeks ago

Bank of England holds fire on interest rates – but good news is coming for homeowners

The Independent  

Here’s the good news: a rate cut in either July or August can probably be characterised as a racing certainty. As expected, the rate setting Monetary Policy Committee left rates at 5.25 per cent at their latest meeting. Dave Ramsden, one of the Bank’s deputy governors, joined the MPC’s dove-in-chief Swati Dhingra, an external member, in voting for a cut. …

Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation
7 months, 2 weeks ago

Bank of England edges closer to rate cut, possibly in June, as it predicts below-target inflation

Associated Press  

LONDON — The Bank of England maintained its key U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target. I’m optimistic that things are moving in the right direction.” Bailey indicated that the financial markets …

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