The Latest Breaking News from Bank of England

The two million people with variable rate mortgages are particularly vulnerable to the rise in interest rates, while first-time buyers are expected to find it more of a struggle to get on the property ladder

The Bank of England raised interest rates by half a percentage point on Thursday in the biggest increase in the cost of borrowing for 27 years.It is the sixth consecutive hike from the Bank’s Monetary Policy Committee (MPC) since December and lifts its key lending rate from 1.25 per cent…

SOARING interest rates could be the “final straw” for struggling hospitality businesses, industry leaders have warned as the UK economy faces a…

The Bank of England has pushed through the biggest interest-rate hike in 27 years as it warned the UK is heading for more than a year of recession.

UK faces a bleak year as living standards plunge and inflation is set to hit 13% and the UK faces the longest economic downturn since the 2008 financial crisis

The Bank has stated that the UK's "growth is very weak by historical standards"

Analysis: The monetary policy committee has been accused of being asleep at the wheel amid cost of living crisis

This adds up to an extra £605.16 in mortgage costs over the course of a year.

From first-time home buyers to credit card users, we look at how your finances may be affected

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

The increase adds up to more than £600 extra in mortgage costs over the course of a year.