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The Latest Breaking News from Bank of England

Bank of England likely to raise interest rates — maybe a lot

The Bank of England is likely to announce its biggest interest rate increase in more than 27 years as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine

The Independent UK

Bank of England hikes interest rates and warns UK to enter recession with inflation to pass 13% – as it happened

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit households

The Guardian - UK

Interest rates – live: Bank of England confirms rise to 1.75% as inflation to hit 13%

UK to enter ‘deep and protracted’ recession, Bank warns

The Independent UK

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Very bad news for anyone with a mortgage, credit card or loan due at 12pm today

It could be the biggest change in 30 years, piling on bills for millions of people

Wales Online

Sunak, Truss and the Bank of England are lying to you – the UK economy is weak and rigged

Westminster is perpetrating the same scam as the rate-setters – bluffing that they can get the old economic machinery working like before, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

Is Bank of England about to break precedent on interest rates?

Markets expect 0.5 percentage-point rise for first time since independence as inflation rises

The Guardian - UK

Whoever enters Downing Street needs a plan to help ordinary people as interest rates expected to soar

Record View says people in Scotland are having to cope with sky-high inflation and exorbitant energy bills that could rise to £500 a month.

Daily Record

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Brits set for biggest interest rates hike in 27 years as inflation 'could hit 15%'

The Bank of England is set to raise interest rates up to 1.75%, say analysts, which would be the highest level in 27 years as the country tackles massive inflation

Daily Mirror

Rising interest rates a worry for two-thirds of people

Bank of England expected to announce large hike on Thursday

Wales Online

Nearly two-thirds say rising interest rates worry them

Younger people were much more likely to have faced financial difficulties in the last six months, according to an Ipsos poll.

The Independent UK

Raising interest rates will cause more bankruptcies and redundancies, expert warns

The Bank of England is trying to use higher borrowing costs to cool runaway inflation - but the timing was slammed by ex-MPC member Professor Blanchflower, who said he would vote to cut rates instead

Daily Mirror

Interest rate rise could squeeze first time buyers

The average monthly payment could rise to £1,000

Liverpool Echo

UK inflation could reach 15% by start of 2023, experts say

Resolution Foundation says Bank of England likely to forecast higher and later peak, on eve of interest rates decision

The Guardian - UK

Exactly how much your mortgage could rise by if interest rates are hiked this week

Mortgage prices are set to soar if the Bank of England hikes base rate tomorrow as predicted, with people on variable rate homeloans set for the quickest price rises

Daily Mirror

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The Conversation

UK house prices: history says the market is in for a long slowdown not a crash

It’s going to be easier to get on the property ladder following a recent decision by the Bank of England to relax some of the criteria for getting a mortgage. Combined with expectations of a slowdown in the property market, this news will be something of a relief to those…

The Independent UK

Inflation to hit ‘astronomical’ 15% next year as UK households face £3,600 energy bills

Bank of England expected to hike interest rates by 0.5% to tame out of control price rises fuelled by Russia’s war in Ukraine

Wales Online

More financial pain to come as experts warn inflation could hit 15 per cent

Interest rates are expected to rise as the Bank of England tries to tackle spiralling inflation

Evening Standard

Half a million facing mortgage timebomb as London homeowners hit with 0.5% interest rate rise

Worst payment hikes in London and South-East as fixed deals end

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The Guardian - UK

UK inflation will soar to ‘astronomical’ levels over next year, thinktank warns

The rise will force the Bank of England to hike interest rates higher and for longer than previously expected, says NIESR

Evening Standard

Corporate insolvencies hit highest level since 2009 amid mounting recession fears

It follows warnings from the Bank of England that the UK’s economic outlook had ‘deteriorated materially’

Wales Online

The cost of the average house in Wales versus average annual disposable income

A recent report by ONS shows that the average home in Wales cost around £176,000 in 2021, while the average disposable income was around £29,356 a year

The Independent UK

Mortgage rules eased as Bank of England scraps affordability test

Bank of England says change should not be seen as a ‘relaxation of the rules’

The Guardian - UK

UK house prices rising at 11% a year despite cost of living crisis

Average price of a home was £271,209 last month after the 12th monthly rise in a row, says Nationwide

The Independent UK

‘Surprising momentum’ in housing market as prices increase by 11% annually

Nationwide Building Society said it expects the market to slow in the months ahead.

Chronicle Live

Bank of England urges people to check their cash as paper £20 and £50 notes set to expire next month

People have just a few weeks to spend or deposit their old bank notes before they are withdrawn as legal tender

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