The Latest Breaking News from The Bank of England

Borrowers hit by soaring mortgages, but savers have yet to benefit from higher rates

Over the past year, interest rates have been rising rapidly around the world. The post-COVID economic recovery and Russia’s invasion of Ukraine caused inflation to reach 10% or more in many countries. Central banks in the US, UK and Europe have fought back by raising interest rates in an attempt…

Millions of people are already bearing the brunt of the Bank of England's latest interest rate hike

Exclusive: Ofcom is facing calls to intervene after companies pushed through prices rises of up to 17% this year

Early in the new year, seeking to reset and define his premiership, Rishi Sunak laid out five key “pledges” on which he asked voters to judge him come the next election.

Data from Moneyfacts shows average cost of two-year deal now at 6.23%, with five-year at 5.86%

Summit follows claims retailers are using spiralling inflation to boost profit margins by failing to pass on lower costs to consumers

Associated British Foods, the chain’s owner, ups profit forecasts

It comes as interest rates hiked to 5 percent last week