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The Latest Breaking News from Bank of England

Bank of England warns UK faces two-year recession, hikes rate

London (AFP) - The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024.

AFP

Mortgage calculator - how much the interest rate rise will affect your monthly payments

The Bank of England has raised the base interest rate to 3 percent after the biggest rise in 33 years

Manchester Evening News

BoE: Britain faces two-year recession

LONDON: The Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a painful recession that could last two years.

Bangkok Post

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How will the UK interest rate hike affect you?

From loans to mortgages, house prices to credit cards – all you need to know about the biggest rate rise since 1989

The Guardian - UK

Martin Lewis issues new warning to everyone with a mortgage or savings account after interest rates rise

The Bank of England’s base rate has risen from 2.25% to 3%, its highest in 14 years.

Daily Record

Households ‘face double whammy of soaring interest rates and sky-high inflation’

A ‘toxic mix’ of high prices, falling real incomes, and soaring borrowing costs is battering household finances, experts said.

The Independent UK

With interest rates at 3% and fears of longest recession in 100 years, PM urged to get business basics right

Chamber boss: 'Investment intentions... are lagging significantly due to the low confidence affecting many firms right now'

Birmingham Post

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UK faces longest recession since records began, Bank of England warns

Interest rates have been hiked for the eighth time in a row

Manchester Evening News

Unions warn of impact on workers of interest rate rise

The TUC has called for a new economic plan.

The Independent UK

Bank of England delivers biggest rate hike in 33 years

London (AFP) - The Bank of England delivered Thursday its biggest interest rate hike since 1989 to combat soaring inflation and warned that Britain faced a recession set to last until mid-2024.

AFP

£880 annual increase in tracker mortgage costs following latest base rate rise

Since December last year, the average monthly tracker mortgage payment has increased by around £3,410 per year, according to UK Finance figures.

The Independent UK

UK is heading for longest recession in a century, Bank of England warns

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Daily Mirror

Bank of England signals interest rates probably won’t go much higher

Central bank felt the need to massage down interest rate expectations amid fears over impact on UK economy

The Guardian - UK

Pound falls after Bank of England hikes interest rates

Sterling drops 1.4% against US dollar after decision-makers warn of longest recession on record

The Independent UK

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The Independent UK

UK headed for longest recession in century, says Bank of England

Recession could last well into 2024, says central bank as interest rates hiked

Wales Online

UK could be facing longest recession since records began as interest rates go up

Homeowners are set to face the biggest single shock on their mortgage bills since the 1980s as the Bank of England hiked interest rates for the eighth time in a row. The Bank’s base rate will rise to 3% from 2.25%, its highest for 14 years

Evening Standard

Grim recession warning and mortgage misery after Bank of England interest rate rise

Biggest interest rate hike in decades hits homeowners as Bank of England warns of longest recession on record

Manchester Evening News

Bank of England hikes interest rates to 3 percent - here is what it means for your mortgage

It is likely to impact millions of homeowners across the UK

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The National (Scotland)

Interest rate rises again as Bank of England warns of longest recession on record

INTEREST rates have risen to 3 per cent as the Bank of England announced the biggest hike for three decades.

The Independent UK

Bank of England confirms biggest interest rate hike since 1980s

The UK could be facing the longest period of recession since reliable records began

Insider UK

Bank of England raises interest rates to 3%

Central bank also warns that the UK could be on course for its longest recession since reliable records began a century ago

Wales Online

How interest rates rise will affect you as Bank of England hikes rate to 3%

Thursday's increase is the biggest single rise in 33 years and it could have major implications for mortgage holders

Birmingham Post

Interest rates up to 3% as Bank of England bids to tackle cost of living crisis and warns of long recession

Rise from 2.25% to 3% had been widely expected and is biggest since 1980s

Daily Record

Scots face mortgage spike as biggest interest rate rise since 1980s announced

The Bank warned the UK could be on course for the longest recession since reliable records began in the 1920s.

Daily Mirror

How high could interest rates go after hitting 3% today - and why they're rising

The Bank of England has today hiked interest rates to 3% - but will interest rates keep rising? Market analysts suggest they will - but predictions have been scaled back in recent days

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