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The Latest Breaking News from Bank of England

UK Inflation, Highest in Western Europe, Falls Only a Little in March

Britain now has Western Europe's highest rate of consumer price inflation after it fell by less than expected in March to 10.1% in March from February's 10.4%, official data showed on Wednesday. Economists polled by Reuters had forecast that the annual CPI rate would drop to 9.8% in March, moving…

Asharq Al-Awsat

UK inflation eases but holds above 10%: data

London (AFP) - UK inflation slowed slightly last month but held stubbornly above 10 percent, official data showed Wednesday, further fuelling a cost-of-living crisis despite an aggressive series of interest-rate hikes.

AFP

Wages failing to keep pace with price rises for 15th month in a row

While wages have been rising over recent months, they have failed to keep pace with prices

Evening Standard

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Global economy not on the cusp of another 2008 - Bank of England governor

The UK’s economy showed no growth in February, narrowly avoiding a recession despite decades-high inflation

Insider UK

Strikes drag UK economic growth to a standstill; mortgage defaults rising as households struggle – as it happened

Latest GDP report shows that civil service and teachers’ strikes held back service sector growth, leading to no growth in February

The Guardian - UK

Economist who lambasted Brexit and Liz Truss joins Bank of England

New member of Bank’s Monetary Policy Committee believes ‘Brexit is bad for the UK’

The Independent UK

Is a UK house price crash coming? Here's what the experts are predicting

Property prices have started to fall, so is a UK house price crash coming?

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City of London police open inquiry into alleged sexual misconduct at CBI

Investigation begins after the Guardian reports on complaints against senior figures at business organisation

The Guardian - UK

Megan Greene to join BoE’s monetary policy committee

Global chief economist at Kroll will join the MPC as an external member on a three-year term from 5 July

The Guardian - UK

UK spent almost £500,000 on unused support scheme for energy firms

Exclusive: EMFS, devised by Treasury and Bank of England as backstop fund, was quietly closed this year

The Guardian - UK

London property market stagnant amid warnings of UK-wide house price falls

The typical London house price in March was £537,250, which is very slightly up (0.1 per cent) on this time last year

Evening Standard

Average UK house price increased by 0.8% in March, says Halifax

The typical house price in March was £287,880, which was about 2% below a peak reached last August, according to Halifax’s report.

The Independent UK

Why you should care about bumper bank profits

The Bank of England has raised interest rates 11 times since December 2021 but, while this may boost bank profits, it is less likely to boost many people’s bank balances.

The Conversation

Fixed mortgage rates prolong bad news on inflation

City Comment: Another rate hike could spell very bad news indeed for homeowners whose mortgage fixes expire this year

Evening Standard

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The Guardian - UK

Wyelands Bank rebuked by Bank of England for regulatory failings

Central bank decides against £8.5m fine because of collapsed firm’s ‘limited resources’

The Guardian - UK

Bank of England ‘may need to cut interest rates earlier and faster’

MPC member Silvana Tenreyro expects such a move ‘to avoid significant inflation undershoot’

The Guardian - UK

Spanish inflation almost halves and German CPI falls as energy prices cool – as it happened

Rolling coverage of the latest economic and financial news

Manchester Evening News

Property experts encouraged by 'green shoots' as mortgage approvals rise

Home-buyer mortgage approvals have increased for the first time in six months

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The Independent UK

Mortgage approvals to home-buyers increase for first time in six months

Some 43,500 mortgages were approved for house purchase in February, up from 39,600 in January, according to Bank of England figures.

The Guardian - UK

Credit Suisse aided tax evasion, says US Senate committee; Bank of England reports UK banks are ‘resilient’ – as it happened

US Senate committee’s findings come on the day UBS appoints ex-boss Sergio Ermotti as new CEO to steer Credit Suissse takeover

The Independent UK

Silicon Valley Bank collapse was fastest since Barings in 1995, Bank of England governor says

Andrew Bailey says economy is in ‘period of very heightened tension and alertness’

Evening Standard

Bank of England chief: HSBC was only reasonable bidder for Silicon Valley Bank UK

Other prospective bidders, Andrew Bailey said, either never submitted a firm offer or attached terms the Bank couldn’t agree to

The Independent UK

Watch as Bank of England governor speaks to Treasury committee on SVB rescue

Watch as Bank of England governor Andrew Bailey speaks to the Treasury committee about Silicon Valley Bank (SVB) after its £1 rescue by HSBC.

The Guardian - UK

SVB collapse was ‘fastest since Barings’, Bank of England says, in call for vigilance – as it happened

Treasury committee holds hearing on the sudden collapse of Silicon Valley Bank this month

The Conversation

Rising inflation will continue to cause political headaches for the government, but also for the Bank of England

The Bank of England raised its main interest rate for the eleventh time in a row to 4.25% at its March meeting. At its previous meeting in February the Bank was optimistic about the prospects for inflation in the coming year, saying: “We expect inflation to fall quickly this year.”

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