The Latest Breaking News from The Bank of England

Forecasters at three leading institutions suggest inflation rate will halve to 2% by April

Andrew Bailey also warned that there is still a risk of 'global shocks' hitting the UK economy

Investing in projects such as green schemes could boost growth and make public finances more sustainable. In other words, it’s a no-brainer, says economist Carsten Jung

Goldman Sachs says faster-than-expected fall in borrowing costs will ease the pain for millions

The average rate on a two-year fixed mortgage deal has fallen from 5.92 per cent to 5.87 per cent

Up to 1.5m households expected to face sharp increase this year, with inflation and tax rises also denting spending power

First Direct and TSB were among the latest lenders cutting rates

Prime minister pledged to halve inflation, grow economy, cut national debt, lower NHS waits and ‘stop the boats’

In today’s newsletter: Guardian experts assess the government’s progress on the prime minister’s key promises

Around 5 million households have seen their mortgage interest rate change since the Bank of England base rate started to rise in late 2021. Over the course of the 2023 alone, the base rate increased from 3.5% to 5.25%, surpassing economists’ expectations and pushing mortgage rates to the highest levels…

Five million more UK households could feel the effects of recent interest rate increases in coming years. Roughly the same number have already been forced to remortgage since the recent spate of rate rises began in 2021, according to the Bank of England’s latest Financial Stability Report. These borrowers have…