The Latest Breaking News from Bank of England

Rolling, live coverage of business, economics and financial markets as consumer price index inflation reaches 8.7%, well above forecasts

In today’s newsletter: It’s good news – but the figure is still a bit higher than expected, even as energy costs decline. As the latest data is released, we look at its ongoing impact – and what it means for you

Bailey said the only way to have prevented soaring inflation would have been to hike rates “well into double-digits” at the height of the pandemic

The Bank of England increased its base rate yet again in May 2023 to 4.5%, pushing borrowing costs to the highest level in almost 15 years. More than 6 million UK households will now see their mortgage payments increase by the end of 2025, with more than 4 million experiencing…

A top U.K. economist ruffled feathers with tactless remarks last month about inflation's primary cause.

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.

The UK’s new 4.5% base rate may seem high, but it’s actually quite low compared to the 1980s and 1990s

Yesterday, the Bank of England increased its base interest to 4.5% from 4.25% - which was the 12th rise since December 2021 when the rate was 0.1%

Just a small percentage rise can have a lasting knock-on effect, say experts