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The Latest Breaking News from Bank of England

UK interest rates: crashing the economy is no way to bring down inflation

The Bank of England (BoE) has raised interest rates once again to 5.25%, mirroring similar moves by the Federal Reserve and the European Central Bank. The fact that the UK is still suffering from high inflation – higher than either the US or eurozone – made another rate rise appear…

The Conversation

Five ways to take advantage of rising interest rates to boost your savings

With the Bank of England base rate currently the highest it has been since early 2008, you may have a valuable opportunity to increase your earnings on pensions, investments and savings accounts. After all, when the central bank raises its main rate – the base rate, which is typically used…

The Conversation

Hopes of ‘soft landing’ as US jobs growth slows; UK economy caught ‘in low-growth trap’ – as it happened

Fewer jobs created last month than expected, but economists hope the US can avoid recession

The Guardian - UK

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How the Bank of England's interest rate hikes are filtering through to your finances

The Bank of England has increased interest rates to 5.25%, a level not seen since April 2008 and markedly higher than the all-time lows of 0.1% seen less than two years ago.

The Conversation

Interest rates rise to 5.25% for first time in 15 years

The Bank of England raised interest rates for the 14th time in a row today, by 0.25%. The Bank’s Monetary Policy Committee voted by a 6-3 majority in favour of the rate rise.

The Week

Why is Spain’s inflation so much lower than the UK’s? Because it stood up to business

The reliance on Bank of England rate rises alone can’t go on. In other countries, rent caps and excess profit taxes are working, says the IPPR’s Carsten Jung

The Guardian - UK

Bank of England rate hike adds £24 a month onto average tracker mortgage payment

Mortgage holders on tracker deals face nearly £24 per month being added to their payments, on average, following the latest Bank of England base…

The National (Scotland)

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Interest rate hike adds £24 a month on to average tracker mortgage payment

The 0.25 percentage point rise will add on £23.71 on average to monthly tracker payments, adding up to nearly £285 per year.

The Independent UK

Bank of England hikes interest rates for 14th consecutive time despite inflation slowdown

Central bank raises interest rates to highest level since February 2008

The Independent UK

Bank of England accused of over-reacting after raising interest rates to 5.25% – as it happened

Protests take place outside the Bank as it increases rates again, although inflation is expected to drop to 5% by end of the year

The Guardian - UK

FTSE 100 Live: Bank of England interest rate rise due, Next ups profit guidance, shares fall

The Bank of England’s long-running fight against inflation will today see interest rates hit at least 5.25%.

Evening Standard

Bank of England set to join Fed in raising interest rates again amid high UK inflation

The Bank of England is set to raise interest rates for the 14th time in a row to a fresh 15-year high and keep the door open for further increases as it tries to tamp down persistently high inflation

The Independent UK

Bank of England poised to raise UK interest rates to 5.25%

Fears remain over stubborn inflation but slowing economy likely to fuel more cautious approach from rate-setters, say analysts

The Guardian - UK

Sunak claims ‘light at end of tunnel’ on inflation as Bank of England set to raise rates again

His comments came as the Bank of England prepared to hike interest rates to the highest level since February 2008

The Independent UK

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TechRadar

The iPhone 15 hits a major milestone on the road to release

Apple inches closer to the iPhone 15's launch, crossing major milestone as mass production reportedly kicks off.

Tom’s Guide

OnePlus Open reportedly delayed — here's what's going on

OnePlus could be changing the display technology used for the OnePlus Open, resulting in a delay to the rumored launch.

The Guardian - UK

Rising UK interest rates force homebuyers to take on longer mortgages

Builder Taylor Wimpey says Bank of England stance has weakened housing market

Evening Standard

Bank of England set to raise interest rates above 5% today

The City braces for a hike of at least a quarter-point, taking base rates to their highest since 2008

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The Guardian - UK

Sarah Breeden to be deputy governor of Bank of England

Bank will have largest ever number of women on rate-setting monetary policy committee after appointment

Android Central

OnePlus Open reportedly delayed, but it might be worth the wait

The OnePlus Open, tentatively named the OnePlus V Fold earlier, was initially expected to launch on August 29. However, a new leak suggests otherwise.

Evening Standard

UK house prices fall at fastest annual rate for 14 years

The price of a typical home is now 4.5 per cent below the August 2022 peak

The Guardian - UK

UK recession fears swirl as factory output falls and house prices slide – as it happened

Nationwide reports average house prices fell 3.8% in year to July, biggest annual drop in 14 years, while manufacturers suffer worst month of 2023

The Independent UK

Recession fears as house prices slump and manufacturers suffer worst month since lockdown

Price of a typical home is now 4.5 per cent below the August 2022 peak

The Independent UK

UK house prices fall at fastest annual rate in 14 years

The price of a typical home is now 4.5% below the August 2022 peak, Nationwide Building Society said.

The Independent UK

Consumer lending jumps to five-year high as squeezed households rely on credit

But in better news for the housing market, mortgage approvals ticked up unexpectedly in June despite borrowing costs continuing to rise.

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