The Latest Breaking News from Bank of England

Interest rates are expected to be hiked again on Thursday to 1% - their highest level for 13 years

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

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

They are expected to rise from 0.75% to 1% today with another increase likely in August

We are used to thinking of money as notes and coins, the kind most of us hold in our wallets. But most money – in Australia it’s 96.3% – is digital, held by financial institutions and moved around via bank transfers, debit cards and credit cards.

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

The Bank of England could rise interest rates tomorrow

In March, interest rates went up from 0.5% to 0.75% - their highest level since March 2020 as the Bank of England sought to cool rising inflation. It's set to be followed by another rate rise on Thursday this week, and several more in the coming months

The Bank of England is trying to get inflation under control

The Bank of England is set to raise interest rates again from 0.75% to 1%. This will have an affect on people's savings, mortgages and pension pots. Here's how you could be affected

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