The Bank’s latest projection for next year fell from a previous forecast of 0.5pc, while it also warned that annual growth will remain below 1pc for the next four years – down from 2.75pc in the decade before the financial crisis. Despite the weaker outlook for jobs and growth, Mr Bailey said it was “much too early to be thinking …
Nearly three million homeowners face an extra £1,000 in mortgage costs as City analysts have bet on more interest rate rises this year in a bid to contain inflation. Investors now expect a 5pc peak in the Bank Rate this year, as higher than expected March price data has undermined the Bank of England’s credibility and will push its Monetary …
