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The Latest Breaking News from Bank of England

Bank raises rates to 0.75% as it warns inflation could reach double figures

The Bank of England’s Monetary Policy Committee voted eight to one to increase rates by a quarter point, marking the third rise in a row.

The Independent UK

Bank of England raises interest rate to 0.75 per cent — here’s what it means for homeowners

The new increase is the third back-to-back hike by the Bank of England, raising the cost of borrowing to pre-pandemic levels.

Evening Standard

Bank of England raises key interest rate as pressure mounts on households

War in Ukraine and fear of inflation surge cause policymakers to increase rate to 0.75 per cent

The Independent UK

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What Bank of England's 0.75% interest rise means for you - from savings to mortgages

The Bank's Monetary Policy Committee - which influences what lenders do - has increased rates from 0.5% to 0.75% to try to cool soaring inflation. It comes amid warnings the war in Ukraine could send the cost of living crisis spiralling further

Daily Mirror

Bank of England raises interest rates to 0.75% as inflation soars

Threadneedle Street reacts to prospect of Ukraine war pushing UK inflation peak to 10%

The Guardian - UK

Bank of England hikes interest rates to 0.75% as cost of living crisis escalates

It is the third time in more than three years that the Bank of England has hiked the interest rate, which was at a record low for much of the coronavirus pandemic

Daily Mirror

Bank of England likely to raise key rate to combat inflation

The Bank of England is likely to raise its key interest rate for the third time since December

The Independent UK

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FTSE 100 Live: Bank of England raises interest rate, inflation fears prompt Fed action

The Bank of England will today return interest rates to their pre-pandemic level as policymakers step up efforts to tackle inflation.

Evening Standard

Bank of England warns inflation could breach 8%, raises rates, condemns Russia’s invasion of Ukraine – as it happened

Rolling coverage of the latest economic and financial news, including the UK interest rate decision at noon

The Guardian - UK

Bank of England urged not to raise interest rates amid cost of living crisis

The Bank wants to cool soaring inflation and Governor Andrew Bailey recently appealed to workers not to ask for big pay rises. But the GMB union yesterday called on rate-setters to hold fire

Daily Mirror

Bank of England set for tough call on interest rates after US rise

Analysis: UK faces strong pressure from inflation, but increase could help push economy into recession

The Guardian - UK

Bank of England poised to shove rates up for third time in a row

Is the Bank of England putting up interest rates tomorrow (Thursday) at 12pm?

Evening Standard

Interest rates are likely to rise by much less than most people are predicting

Inflation was already a serious problem thanks to the bottlenecks in the global supply chain caused by the COVID-19 pandemic. But following Russia’s brutal invasion of Ukraine, and the effect on oil and gas prices, inflationary pressures now look a whole lot worse.

The Conversation

Bank of England joins effort to safeguard Ukraine’s assets as country faces economic devastation

Exclusive: The governor of the Bank of England, Andrew Bailey, offered his support to his Ukrainian counterpart

The Independent UK

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The Guardian - UK

Oil tumbles back to $100; UK pay squeeze continues – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Will the Bank of England push rates up with war set to drag spending power down?

Conflict in Ukraine means January’s GDP boost is unlikely to last, but Threadneedle Street still seems obsessed with curbing inflation

Wales Online

Bank of England expected to raise interest rates to 0.75pc as inflation soars

Russian invasion of Ukraine has intensified pressure on the Bank of England to raise rates as consumer price inflation increases

Daily Mirror

Russia's barbaric war in Ukraine set to hammer families and plunge UK into recession

Experts say the Bank of England is 'highly likely' to raise interest rates. There are also fears fallout from the conflict in Ukraine could lead to rising costs for businesses

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Evening Standard

Mortgage affordability tests: what do the new Bank of England proposals mean for house prices and first-time buyers?

Recent Bank of England analysis found that the affordability test may have caused some borrowers to take out smaller mortgages than they could have done in its absence.

The Guardian - UK

Bank of England puts Covid behind it, but now must face costs of war

Threadneedle Street is offloading debt, but the Ukraine situation poses a new dilemma for all central banks

Edinburgh Live

National Living and Minimum Wage rising in April 2022 as inflation expected to soar

The National Minimum Wage is rising but Bank of England warns that the rate of inflation is expected to hit 7 percent in April as the cost of living crisis continues to be a burned to households.

Daily Mirror

Mortgage shake-up will make it easier for low-income workers to get a loan for a house

Around 12% of people either can't get a mortgage or can't get the one they want due to strict lending requirements dating back to 2014, which the Bank of England is talking about relaxing

The Independent UK

Consumer credit borrowing grows at fastest annual rate since lockdowns started

The annual growth rate for borrowing using consumer credit accelerated to 3.2% in January, according to Bank of England figures.

The Independent UK

Rouble plunges as UK confirms sanctions to stop Russia accessing overseas cash

The Chancellor said the UK will follow US and EU sanctions against Russia’s central bank and wealth funds.

The Guardian - UK

In the face of war, central bank hawks must retreat on inflation

Russia’s invasion will fuel the energy price crisis. The Bank of England, and the chancellor, must change course to avoid recession

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