Interest Rates

New research from Edinburgh's Smart Data Foundry has revealed the significant impact of bank rate rises on consumer finances in Scotland.

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–

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 UK's GDP grew 0.4% during May, leading experts to suggest the Bank of England may further delay a cut to the base rate.

The UK's largest banks have become engaged in a fierce competition to attract borrowers, resulting in significant cuts to mortgage rates. Halifax, HSBC UK, Barclays, Santander, Natwest, and Yorkshire Building Society are among those who have lowered their fixed-rate deals this week.

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 European Central Bank (ECB) has lowered interest rates by a quarter point to 3.75%, marking the first reduction in nearly five years. ECB President Christine Lagarde indicated this could be the beginning of a series of rate reductions, but cautioned future decisions would depend on inflation dat

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 Governor, Andrew Bailey, has signalled that markets are correct to anticipate more than one interest rate cut this year, expressing growing confidence that inflation is heading towards the target. In an interview with the Financial Times, Governor Bailey stated that rate cuts wer

The Bank of England (BoE) has decided to keep interest rates unchanged at 5.25%, despite a drop in inflation to 3.4% in February – the lowest level since September 2021. The positive inflation figures, released on Wednesday, came ahead of the BoE's latest interest rate decision today.

The UK may have already emerged from recession, with signs of an upturn, according to the Governor of the Bank of England Andrew Bailey. In a recent appearance before a committee of MPs, Mr Bailey indicated the possibility of interest rate cuts even before inflation reaches the 2% target. The b

The Bank of England has decided to maintain interest rates at 5.25% for the fourth consecutive meeting, emphasising the need for "more evidence" that inflation is on a sustained downward trajectory before considering rate cuts. Andrew Bailey, Governor of the Bank of England, explained that they requ

The Bank of England (BoE) has again decided to maintain the base interest rate at 5.25%. This decision came amidst Governor Andrew Bailey's assertion that considerable effort is still needed to bring inflation down to the standard 2% target. The Monetary Policy Committee (MPC) voted six to three in

The Bank of England (BoE) has opted to maintain interest rates at 5.25% in a tightly contested vote. The decision follows almost two years of consecutive rate rises and is seen by experts as a potential peak, considering the better-than-expected inflation data received recently.