Bank Of England

Despite forecasting that the Chancellor's recent budget will prolong the fight against inflation, The Bank of England has cut the base interest rate a further 0.25 percentage points, bringing the interest rate to 4.75% and marking the second cut this year. The bank predicts that the budget's £

Mortgage approvals have reached a two-year high in September, with 65,600 loans approved, according to the Bank of England.

The pound sterling experienced its sharpest decline against the dollar since March, falling over 1% after Bank of England (BoE) Governor Andrew Bailey suggested the possibility of accelerated interest rate cuts. Speaking to The Guardian Governor Bailey indicated that the BoE could adopt a "more aggr

Bank of England Governor Andrew Bailey has played down expectations of interest rates returning to near zero, citing the need for significant economic shocks to justify such a move. Mr Bailey told Kent Online: “Where it will settle is a good question. Simple answer is I can't tell you wit

The Bank of England's (BoE) Monetary Policy Committee (MPC) has voted to keep the base interest rate at 5%, confirming expectations and putting off further anticipated cuts. The MPC's decision comes after the UK's CPI inflation remained at 2.2% in August. It voted by a majority of 8–

UK CPI ticked up to 2.2% in July, driven by energy base effects that outweighed a slowdown in services inflation. Analysts anticipate further gradual increases in inflation through the second half of 2024. Peter Arnold, EY UK chief economist, said: "A smaller drag from the energy category added

The UK's major banks are now better prepared for a financial crisis and less likely to require a government bailout, the Bank of England has said. The central bank has published its second assessment of eight major banks – Barclays, HSBC, Lloyds Banking Group, Nationwide, NatWest Group, Santan

The Bank of England's Monetary Policy Committee (MPC) has voted to reduce the base interest rate by 0.25 percentage points to 5%. The decision passed with a 5–4 majority vote, with four members favouring a further rate hold. Jill Mackay, savings specialist at Scottish friendly, highl

The Bank of England (BoE) has invited views from the private sector on its approach to innovation in money and payments. Building on the BoE’s work to date, the newly published discussion paper asks for responses on the next step in a wide-ranging conversation on how to deliver an ambitio

House purchases faced delays due to a technical glitch in the Bank of England's crucial CHAPS payment system.

The Bank of England (BoE) has voted to maintain interest rates at 5.25%. Despite inflation hitting the 2% target, the Monetary Policy Committee (MPC) voted 7-2 to keep rates at a 16-year high, citing the need to ensure sustained low inflation. However, a reduction as early as August was hinted at by

The Bank of England (BoE) has come under scrutiny for having spent £8.5 million on remote working kit for staff, according to official figures. The data, obtained under the Freedom of Information (FOI) Act by think thank Parliament Street revealed that Threadneedle Street has splashed out on a

Banknotes carrying a portrait of King Charles III have been issued for the first time on 5 June 2024.

The Bank of England's Monetary Policy Committee (MPC) has voted to maintain the Bank Rate at 5.25% in May, but experts say signs of an impending rate cut are clear. The MPC's forecast predicts inflation below 2% in two to three years, signalling potential cuts.

The Bank of England has agreed to a “once in a generation” overhaul of its forecasting and communications strategies following a comprehensive review led by former Federal Reserve chair Ben Bernanke. The review provides a thorough assessment of the bank’s current forecasting approa