The Latest Breaking News from MPC

Those on fixed rate mortgages will be shielded for now but it will drive up repayments for others on variable rates deals

Yesterday, the Federal Reserve implemented its first 50-basis-point interest rate hike since 2000 to tame rising inflation. The volatility in the stock market has been increasing with the Fed’s monetary policy pivot, historically high levels of inflation, and the Russia-Ukraine war. And analysts expect the S&P 500 to plunge further.…

Experts are predicting further rates rises but warn it will be difficult for the Bank of England to control inflation without risking recession.

It is a crippling cost of living crisis

The cost of living will hit a record high this year, the Bank of England is warning, with inflation due to hit 10% and the price of energy bills and food likely to keep rising

The change will mean higher mortgage costs and increased charges for anyone in debt or who is borrowing

Rise to 1% is fourth successive increase and highest level since February 2009

Economists predict minimum 0.25 point rise as households contend with cost of living crisis

London (AFP) - The Bank of England is on Thursday expected to raise interest rates for a fourth time in a row to contain runaway inflation that is causing a cost-of-living crisis. 

Bank of England expected to raise base rate to highest level in 13 years as walks ‘very fine line’ between cooling inflation and avoiding recession

Analysis: New Labour’s chancellor revealed his plan to a surprised Eddie George and his private secretary, now governor, Andrew Bailey