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The Latest Breaking News from Bank of England

What Does UK Entering Recession After Steeper-Than-Expected Fall In GDP Mean For Brits

While recessions of the past, notably during the global financial crisis of 2008-2009, were protracted and severe, indications suggest that this downturn may be milder and short-lived.

International Business Times UK

OPINION - Just a light recession – Bank of England boss is bullish on economic recovery

Well, that was quick. Bank of England governor Andrew Bailey appeared in front of Parliament today and declared, if not quite that happy days are here again, then that the recession isn't all that bad and might, in fact, already be over.

Evening Standard

UK shows signs of recovery from mild recession, says Bank of England

Bank’s governor predicts Britain’s economy will receive a boost when interest rates start to fall later this year

The Guardian - UK

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UK economy bounces back with 'signs of upturn' after 'very weak' recession, says Bank of England chief

Britain’s economy is already showing “distinct signs of an upturn” after slipping into recession at the end of last year, the Bank of England’s governor said on Tuesday.

Evening Standard

Bank of England governor predicts UK recession will be ‘very small’, as MPs push for interest rate cuts – as it happened

Andrew Bailey tells MPs there are signs that UK economy is picking up, after GDP shrank in the last two quarters

The Guardian - UK

Bank of England ‘risks worsening UK recession if no interest rate cuts soon’

Former chief economist Andy Haldane says keeping rates high could ‘crush the economy’

The Guardian - UK

EU opens formal investigation into TikTok; Bank of England ‘could worsen recession’ without interest rate cuts soon – as it happened

The European Union to investigate if TikTok breached online content rules aimed at protecting children, as Andy Haldane urges central bank to consider interest-rate cuts

The Guardian - UK

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Sticky UK Inflation Stokes Bank Of England Rate-cut Debate

British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.

International Business Times

Hunt warned that UK tax cuts risk increasing mortgage rates

“A policy package that ends up lifting mortgage rates is the last thing Hunt will want with an election looming” Bloomberg economist Dan Hanson said

Evening Standard

UK wage growth slows, BoE on alert for economic impact

UK wage growth has slowed once again, prompting the Bank of England to remain on high alert. Experts suggest this could affect the country's economy.

Top News

Bank of England faces growing interest rate dilemma with wage growth still ‘uncomfortably high’

Latest figures from the Office for National Statistics (ONS) showed regular pay went up by an average of 6.2% in the three months to December

Evening Standard

The Body Shop UK falls into administration; UK wage growth and US inflation hit rate cut hopes – as it happened

The Body Shop has collapsed into administration in the UK, less than three months after it was taken over by a private equity company

The Guardian - UK

The Body Shop set to appoint administrators; UK hit by ‘significant long-run cost of Brexit’ – as it happened

Goldman Sachs ‘Doppelgänger’ analysis suggests UK real GDP has unperformed by 5% since 2016 vote, while Body Shop’s owners have filed the intention to appoint administrators.

The Guardian - UK

Bank of England ‘could lower interest rates fairly soon’, as City expects only three cuts this year – as it happened

Rolling coverage of the latest economic and financial news, as hawkish BoE policymaker looks for signs that rates needn’t rise further

The Guardian - UK

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International Business Times UK

Unemployment Rate in the UK: Official Figures Show Potential Discrepancy

The new data, derived from experimental results within the Labour Force Survey, could potentially exert pressure on the Bank of England to reconsider any immediate plans for interest rate cuts.

The Guardian - UK

UK workers must accept lower pay deals to help beat inflation, says Bank ratesetter

Deputy governor also says company must rein in profits as there is ‘some way to go’ to meet 2% inflation target

The Guardian - UK

Uber posts first full-year operating profit as a listed company – business live

2023 was an “inflection point for Uber”, says CEO Dara Khosrowshahi

Evening Standard

Mortgage market finally returning to pre-pandemic levels, Virgin Money says

According to Bank of England data, monthly mortgage approvals have remained between 10% and 20% below 2019 levels ever since the mini-Budget

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The Guardian - UK

Joe Biden declares America’s economy ‘is the strongest in the world’ after jobs report smashes forecasts – as it happened

Rolling coverage of the latest economic and financial news, as US adds 353,000 new jobs in January

International Business Times

Bank Of England Freezes Rate As Inflation Stays High

The Bank of England froze its key interest rate Thursday for a fourth meeting in a row, matching US Federal Reserve policy, as high inflation prevents cuts to borrowing costs.

Evening Standard

Inflation to fall to 2% target within months, Bank of England says, but will rise again

GDP, meanwhile, is now expected to stagnate in the first quarter of this year, but will pick a little up with 0.5% growth in 2025

Evening Standard

Bank of England leaves interest rates on hold at 5.25%

City forecasters do not expect the first cut in the cost of borrowing until May or June

The Guardian - UK

Bank of England governor says ‘things are moving in the right direction’ after leaving interest rates on hold – as it happened

BoE policymakers were split three ways over interest rate decision, as Andrew Bailey says Bank needs to be more confident that inflation will fall and stay low

The Guardian - UK

Bank of England expected to hold rates and warn on inflation

Wage growth fears likely to make Bank policymakers wait before cutting interest rates from 5.25%

Evening Standard

Bank of England could 'lay the groundwork' for interest rate cuts this week

The Bank is also expected to publish much more optimistic inflation projections this week

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