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The Latest Breaking News from Bank of England

UK inflation hits 3.3% as Iran war drives energy costs higher

British consumer prices rose at a faster pace in March, reaching 3.3% as the ongoing Iran war sent fuel prices soaring. The data has forced markets to reassess expectations for the Bank of England, with a previously anticipated interest rate cut next week now looking very unlikely.

Euronews

Economist highlights controversial way Bank of England can ease inflation

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The Independent UK

Bank of England should increase interest rates to head off inflation, warns top economist

Expert warns that rising energy costs could take inflation to 4.5 per cent this year

The Independent UK

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UK 'On Brink' Of Recession — 250,000 People Could Lose Jobs By Mid-2027 Due To Iran War

EY Item Club warns the UK will 'flirt with recession' as the Iran conflict oil shock pushes unemployment to 5.8 per cent and halves GDP growth forecast.

International Business Times UK

IMF US Debt Warning Shows How 'Safety Premium' Collapse Costs UK Homeowners £1,200 More on Mortgages

The rise in US Treasury yields is causing UK mortgage rates to increase by £1,200 annually for homeowners. Learn about the IMF's warnings and what they mean for your financial future.

International Business Times UK

Bank of England chief warns of ‘difficult judgements’ around changes to interest rates

Rates sit at 3.75% but a vote is incoming at the end of April

The Independent UK

Bank will not rush into moving rates despite ‘big energy shock’, says Bailey

The Bank of England boss said the energy shock will push up prices across the world.

Evening Standard

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Donald Trump says he's reopening Strait of Hormuz 'permanently' as Britain slams his war as a folly

Iran has blocked attempts by the US president to prize open the key strait in the Gulf

Evening Standard

Reeves to hold talks with US counterpart after hitting out at Trump’s ‘folly’ over Iran war

Rachel Reeves has gone public with her anger and frustration at the ‘folly’ of America’s actions in the Middle East

The Independent UK

Middle East conflict sparked major supply shock, says Bank of England boss

Andrew Bailey made his comments as the UK was given a gloomy economic outlook by the International Monetary Fund.

Evening Standard

Surge pricing could be coming to supermarkets, Bank of England warns as digital displays tested

There is no evidence to suggest that UK supermarkets are using algorithm-driven dynamic pricing at present, but they are testing digital price displays

Evening Standard

Mortgage availability expected by lenders to increase in coming months

The ‘full impact’ of higher costs and mortgage rates is still feeding through, a finance expert said.

Evening Standard

Oil rises and global stocks wobble amid worries over ‘fragile’ ceasefire deal in Middle East – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

JP Morgan Chase head warns of unexpected global interest rate shocks as a result of Iran war

Jamie Dimon also appears to criticise Donald Trump for distancing the US from its allies

The Independent UK

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The Guardian - UK

UK firms expect to raise prices more quickly as Iran war pushes up costs

Bank of England survey in March shows chief financial officers foresee 3.7% increase over coming year

Evening Standard

Firms predict faster increases in prices amid Middle East conflict

The Bank of England’s latest survey of finance bosses across UK companies also highlighted growing uncertainty over the business outlook.

International Business Times

FTSE 100 Surges 160 Points to 10,337 as UK Stocks Rebound Strongly on April 1 2026

London's benchmark FTSE 100 index climbed sharply in early trading Wednesday, rising 1.58% or 160.48 points to 10,336.93 as investors appeared to shake off recent geopolitical jitters and bargain-hunt after a volatile March, with the blue-chip gauge trading in a wide range between 10,169.30 and 10,366.46 by mid-morning.

Evening Standard

Around 1.3m households face higher mortgages due to Iran war, warns Bank

The Bank of England’s latest Financial Stability Report (FSR) said the UK economic outlook has ‘deteriorated’.

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The Independent UK

More than a million households face higher mortgages due to Iran war, warns Bank of England

The Bank of England’s latest Financial Stability Report (FSR) said the UK economic outlook has ‘deteriorated’

Evening Standard

Prime Minister to chair Cobra meeting on economic hit of Iran war

Sir Keir Starmer told business leaders on Monday that it must be a ‘joint effort’ to tackle the impact of the war.

Evening Standard

February rise in mortgage approvals is ‘snapshot of what could have been’

Bank of England figures show home buyer mortgage approvals increased in February, but mortgage rates have been volatile since.

The Guardian - US

US treasury department demands retraction of story on increased oversight of Federal Reserve

Treasury department said Financial Times article about Scott Bessent’s views on Fed oversight was ‘manufactured’

The Independent UK

Where are UK mortgage rates heading in 2026 as Iran war continues to impact?

Rising swap rates have seen all the sub-4% deals pulled from residential markets over the past few weeks

Evening Standard

Bank should not rush into hiking rates in face of Iran war, says MPC member

Alan Taylor said the current energy price shock and impact on inflation and growth would require a ‘full effort’ from Bank policymakers.

The Independent UK

The shocking rise of mortgage costs since Iran war – and when they might go down again

Four per cent mortgage deals have disappeared entirely from the residential market since the Iran war started

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