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The Latest Breaking News from Bank of England

Bank of England warns of longest recession in 100 years as it raises rates to 3%

UK economy faces ‘very challenging outlook’ with recession now expected to last until middle of 2024

The Guardian - UK

BT is feeling the squeeze as inflation clouds its future

Telecoms company warns of job cuts as cost pressures and energy bills threaten its financial plans

The Guardian - UK

Britain facing ‘prolonged pain’ as Bank says recession could stretch into 2024 OLD

‘Everyone will be affected’: Hike in housing costs and increased inflation to hit hard

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

What does the latest interest rate hike mean for me?

Interest rates have gone up to 3% which means people, especially mortgage holders, will face higher borrowing costs.

Evening Standard

Who is Bank of England’s Governor, Andrew Bailey?

He announced the UK’s biggest interest rate rise in three decades today to curb soaring inflation

Evening Standard

'The Bank of England's 'incompetent' interest rates hike is dangerous for Britain'

Professor Richard Murphy, political economist and chartered accountant, says increasing interest costs will force hundreds of thousands (if not millions) of UK households into poverty

Daily Mirror

It may sound paradoxical, but Britain needs to spend its way out of recession

Cutting during a recession has been long discredited, says Guardian columnist Polly Toynbee

The Guardian - UK

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Martin Lewis warns homeowners how much their mortgages could go up after interest rate rise

The consumer champion has given his expert advice to homeowners in the UK

Manchester Evening News

Bank of England puts up interest rates to 3% - see how your mortgage will be affected

Homeowners are set to face higher mortgage bills as the Bank of England imposes biggest interest rate hike since 1989

Chronicle Live

Bank of England warns UK may face two-year recession, hikes rate

London (AFP) - The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession that risks lasting until mid-2024.

AFP

How much your mortgage could go up amid Bank of England interest rate hike

The central bank is aiming to ease inflation with the biggest rise in decades

Liverpool Echo

The Leader podcast: Mortgage and rent woe after Bank interest hike

Impact on homes after steepest rate rise since 1989

Evening Standard

What is a recession – explanation in full amid Bank of England warning

As the UK faces its longest recession since the 1920s, we explain what that actually means

Manchester Evening News

Biggest interest rate rise in decades as the Bank of England predicts longest-ever recession

Property price chat, Tube delays, torrential rain – this morning doled out a full house of London bingo. And then the Bank of England said ‘hold my £8.50 beer’.

Evening Standard

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Wales Online

Today's rate hike just added another £900 a year to a lot of people's mortgages

An average of £284 a month has been added since December 2021

Manchester Evening News

Why does rising interest rates help reduce inflation?

The Bank of England says it’s' better for everyone in the long run' to have low and stable inflation

Daily Mirror

Bank of England offers glimmer of hope on mortgages with 'lower than expected' forecast

Andrew Bailey today said interest rates "will have to go up by less than is currently priced in by financial markets" meaning "fixed rate mortgages should not need to rise as much as they have done"

Al Jazeera

Bank of England delivers biggest interest rate hike in 33 years

Central bank raises key rate to 3 percent, warns UK economy is in a recession that could last two years.

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news in one place.

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AFP

Stock markets sink, dollar jumps

London (AFP) - Stock markets around the world sank Thursday while the dollar rallied after the Federal Reserve warned US interest rates would go higher than previously expected in its fight against decades-high inflation.

AFP

Bank of England warns UK faces two-year recession, hikes rate

Manchester Evening News

Mortgage calculator - how much the interest rate rise will affect your monthly payments

The Bank of England has raised the base interest rate to 3 percent after the biggest rise in 33 years

Bangkok Post

BoE: Britain faces two-year recession

LONDON: The Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a painful recession that could last two years.

The Guardian - UK

How will the UK interest rate hike affect you?

From loans to mortgages, house prices to credit cards – all you need to know about the biggest rate rise since 1989

Daily Record

Martin Lewis issues new warning to everyone with a mortgage or savings account after interest rates rise

The Bank of England’s base rate has risen from 2.25% to 3%, its highest in 14 years.

The Independent UK

Households ‘face double whammy of soaring interest rates and sky-high inflation’

A ‘toxic mix’ of high prices, falling real incomes, and soaring borrowing costs is battering household finances, experts said.

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