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The Latest Breaking News from The Bank of England

Bank of England unanimously votes to press pause on interest rates as Iran worries grow

City still thinks borrowing costs will fall – but not until later this year

The Independent UK

BofE leaves interest rates on hold at 3.75% amid fresh inflation fears

Rate setters are worried about a possible spike in inflation caused by the Iran war

Evening Standard

Bank holds UK interest rates at 3.75% and stands ‘ready to act’ over Iran war

The Bank of England left rates unchanged in a unanimous vote among all nine members of its Monetary Policy Committee on Thursday.

Evening Standard

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Bank of England holds interest rates at 3.75% and signals rise is possible within months

Decision comes as concerns mount over economic fallout from Iran war bringing inflation shock

The Guardian - UK

Bank of England is expected to keep main interest rate unchanged because of Iran war

The Bank of England is expected to keep its main interest rate unchanged at 3.75% in the wake of the oil and gas price hikes following the start of the Iran war

The Independent UK

FTSE 100 Live 19 March: Markets slump as gas and oil prices surge, wage growth at five-year low

Stock markets are deep in the red after gas and oil prices spiked in response to attacks on energy facilities in the Middle East.

Evening Standard

Bank of England tipped to raise UK interest rates twice this year to fight inflation shock from Middle East crisis, as oil and gas prices rise – as it happened

UK central bank has left rates on hold, and warned that CPI inflation will be higher in the near term as a result of the ‘new shock to the economy’ from Iran war

The Guardian - UK

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Why are mortgage rates going up when the Bank of England base rate hasn’t changed?

To understand this you need to know about swap rates and the impact of the war in Iran

The Guardian - UK

Interest rates set to be held steady as Iran war clouds inflation outlook

Some economists had previously been expecting policymakers to deliver a cut, prior to the escalation of the war in Iran.

Evening Standard

Taking Churchill off the banknote isn’t ‘erasing history’ – but it is a matter of identity

News of the intended removal of Winston Churchill’s image from the five pound note by the Bank of England has outraged some commentators and politicians. Reform UK’s Nigel Farage called it “the definition of woke”. Conservative leader Kemi Badenoch said the plans to replace historical figures with wildlife would be…

The Conversation

Interest rates are not the tool to solve the inflation caused by the US’s war with Iran

We’ve been here before with Covid and Ukraine. Making borrowing more expensive won’t work – only price controls, caps and public ownership can do that, says Josh Ryan-Collins, a professor at UCL

The Guardian - UK

Fix your mortgage now or face higher payments, experts warn

Sub-4% mortgages have met a rapid demise as the Middle East crisis causes global economic uncertainty

The Independent UK

Availability of sub-4% mortgages nosedives as ‘Trumpflation’ hits borrowers

The Bank of England is due to make its next base rate announcement on Thursday

The Independent UK

Rats or pigeons should replace Churchill on banknotes, says RSPCA

The charity wants ‘overlooked’ urban animals to appear on new notes, after the Bank of England confirmed British wildlife would feature

Evening Standard

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The Guardian - UK

What’s worth more: Churchill or a woke badger? Welcome to Britain’s banknote culture war

Self-appointed patriots are up in arms about a plan to replace historical figures with cute wildlife. The Bank of England shouldn’t duck this debate, says author Jonn Elledge

Evening Standard

FTSE 100 Live 16 March: Bills warning as oil price stays above $100, index firm

Oil prices have continued to rise in a move that adds more strain on the cost of living outlook.

The Independent UK

UK interest rate cut hopes dashed as Iran war sends energy prices soaring

The Bank of England is not expected to cut interest rates amid the escalating conflict in the Middle East

Evening Standard

UK interest rate cut off the table amid Middle East conflict, economists say

It is expected the Bank of England will keep borrowing costs unchanged at 3.75% in March.

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The Independent UK

Badenoch believes scrapping Winston Churchill from banknotes is ‘erasing our history’

The Bank of England said the changes create an opportunity to celebrate our nature and wildlife

Evening Standard

Axing Winston Churchill from banknotes is ‘erasing our history’ – Kemi Badenoch

The Bank of England said the change to wildlife imagery creates an opportunity to celebrate another important aspect of the nation.

Euronews

‘Putting biodiversity in our hands’: British wildlife will soon be celebrated on banknotes

More than 26,000 people voted to put nature on sterling notes.

Evening Standard

Oil wars: West releases record 400 million barrels as Iran hits cargo ships in Strait of Hormuz

Meanwhile Tehran threatens to target banks and financial centres in Middle East as Chancellor Rachel Reeves issues warning on inflation and interest rates

Evening Standard

Aviva’s Direct Line Group fined £10.6m for balance sheet reporting errors

The Prudential Regulation Authority said the firm’s main underwriter, UK Insurance Limited, miscalculated its balance sheet during 2023 and 2024.

The Independent UK

Churchill and Austen to be replaced on banknotes by wildlife in move to tackle counterfeits

The Bank of England says switching to wildlife offers a fresh opportunity to celebrate another vital aspect of the country

Evening Standard

UK wildlife to replace historical figures on next series of banknotes

The Bank of England said the change creates an opportunity to celebrate another important aspect of the nation.

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