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The Latest Breaking News from Inflation

Bank of England warns of long recession in 2023 as it hikes interest rates

Economists say bleak new GDP and inflation forecasts are a “horror show.”

Evening Standard

Bank of England raises interest rates to 1.75 per cent - the biggest hike in 27 years

It comes after experts warned that inflation could peak at 15 per cent

Manchester Evening News

Bank of England doomsday forecast of recession, interest rates and 13% inflation

The dire economic conditions will see real household incomes drop for two years in a row, the first time this has happened since records began in the 1960s, according to the Bank's forecasters

Daily Mirror

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UK economy to fall into recession, predicts Bank of England as interest rates hiked

THE Bank of England has made its biggest increase in UK interest rates in 27 years while inflation is expected to peak at 13.3 per cent in October.

The National (Scotland)

Why are interest rates rising and when will they fall again?

The Bank of England has put up interest rates as it looks to grapple soaring inflation by making it more expensive to borrow and more rewarding to save money

Daily Mirror

Interest rate rise: 0.5 per cent increase will add thousands to mortgage payments for London first-time buyers

Bank of England base rate increase of 0.5 per cent means first-time buyers and existing homeowners face steep rise in mortgage repayments

Evening Standard

Interest rates up to 1.75%, with inflation forecast to hit 13.3%

The UK will enter five consecutive quarters of recession with gross domestic product falling as much as 2.1%, the Bank said

Wales Online

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UK faces long recession and deepest plunge in living standards on record, Bank of England warns

Country to enter recession this year and economy on course to shrink for five straight quarters

The Independent UK

Bank of England lifts interest rates to 1.75% and warns UK set to enter recession this year

Poll earlier had revealed almost two thirds of the public worried by rising rates

Birmingham Post

Winners and losers as interest rates hit 14-year high - from homeowners to savers

The Bank of England (BoE) this afternoon confirmed its base rate will rise from 1.75% to 2.25% - its highest level in 14 years and the seventh time in a row the central bank has upped its rate

Daily Mirror

Interest rates hit 1.75% in biggest rise for 27 years - what it means for you

The Bank of England has today confirmed it is hiking interest rates from 1.25% to 1.75% - a rise of 0.5 percentage points and the biggest rise in 27 years from the central bank

Daily Mirror

Nepal calls November election as economy stumbles

Nepal's government said on Thursday it will hold a parliamentary election on November 20 amid concerns over high inflation and depleted foreign exchange reserves that have led to rising food and energy prices.

Reuters

Rishi Sunak attacks Truss tax cut plan after big interest rate rise

Chancellor Nadhim Zahawi said to be on holiday as Bank of England adds to dire economic outlook

The Guardian - UK

UK interest rate rise: what the Bank of England's historic hike means for your money

The Bank of England has raised its base rate by 0.5 percentage points, the largest single upward jump in 27 years. It takes the base rate to 1.75%, its highest level since 2008. This latest interest rate hike will affect personal finances and reflects the Bank’s efforts to control rampant…

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The Independent UK

How do interest rates affect inflation?

Interest rates are already at their highest level in 13 years

Evening Standard

FTSE 100 Live: Bank of England hikes interest rates to 1.75%, warns of recession

An interest rate hike of 0.5% is confirmed as the Bank of England takes its biggest step yet in the fight against inflation.

The Guardian - UK

Javid denies Truss tax cuts plan will lead to increased borrowing

Latest high-profile backer of Tory leadership candidate says proposals ‘risky’ but not inflationary

The Independent UK

Interest rates: When is the Bank of England’s announcement today?

Monetary Policy Committee likely to take further measures to rein in inflation

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The Independent UK

Tesco and Morrisons hit by ‘shrinkflation’ as ready meals cut by 50g while prices go up

Move comes as UK inflation surges to 40-year high

Liverpool Echo

Rishi Sunak attacks Liz Truss' tax cut plans ahead of debate

The Tory leadership hopefuls are set to battle it out in a live TV debate on Thursday

Evening Standard

As Bank of England interest rates hit new high, how do interest rates affect inflation?

The interest rate set by the Bank of England affects mortgages, loans, and savings.

The Independent UK

Liz Truss threatens to interfere with Bank of England mandate after policy disagreement

Tory leadership frontrunner has taken issue with Bank policy on interest rates

Daily Mirror

Join us LIVE as we explain what biggest interest rate rise in 27 years means for you

The Bank of England is expected to hike interest rates again this afternoon - from 1.25% to 1.75% - in what would be the biggest rate rise announced by the central bank in almost 30 years

The Independent UK

Bank of England likely to raise interest rates — maybe a lot

The Bank of England is likely to announce its biggest interest rate increase in more than 27 years as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine

Birmingham Post

Next Plc basking in strong sales thanks to long hot summer

But there was a warning that sales could slip as warm weather subsides and soaring inflation hits consumer spending

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