The Latest Breaking News from Bank of England

Exclusive: Figures show £26bn was loaned out to around 100,000 firms under the government-backed scheme, but only one in four have paid off the debt

Caution needed rather than panic measures over short-term risks after credibility of government and Bank of England hit

The PM said it was 'going to take time' to fix the situation

City Voices: Bank ought to be on top of everything. It isn’t.

Over the past year, interest rates have been rising rapidly around the world. The post-COVID economic recovery and Russia’s invasion of Ukraine caused inflation to reach 10% or more in many countries. Central banks in the US, UK and Europe have fought back by raising interest rates in an attempt…

The dollar index (DXY00 ) on Wednesday rose by +0.40% as the market focused on Fed Chair Powell’s comment that he would not “at all” rule out two consecutive rate hikes. The markets are discounting only one +25 bp rate hike through year-end. Meanwhile, EUR/USD (^EURUSD ) fell -0.41% on...

Andrew Bailey says financial markets expect more rate rises amid continuing high inflation

UK house price growth is slowing. While prices rose 1.2% in June compared to last year, this is down on May’s 1.9% growth, according to property website Zoopla. Its house price index – which forecasts a 5% fall in house prices this year – also shows that 42% of sellers…

Central bank chiefs kept up their hawkish language as they appeared today on a policy panel at the ECB’s policy retreat in Sintra, Portugal. Fed Chair Powell said he won’t take two consecutive rate hikes off the table “at all.” Powell also said, “Policy hasn’t been restrictive for very long....

Central bank’s model ‘based on last quarter century’, concedes chief economist Huw Pill

Millions of people are already bearing the brunt of the Bank of England's latest interest rate hike