The Latest Breaking News from The Bank of England

Unnecessarily high fuel prices will have to be tackled to help reduce inflation, suggests Andrew Bailey

The Bank of England governor said petrol retailers have been ‘charging too much’

FTSE 100 index posts biggest one-day fall since March, as strong US jobs report fuels fears of even higher US interest rates

Sir Charles Bean agreed with economic experts that the Bank of England has made mistakes in its recent inflation modelling.

The Liberal Democrats also claimed Mr Sunak had 'thrown in the towel' over his poor attendance record at the weekly grilling in front of MPs

The tipping point for the economy could come if fixed-rate mortgages rise above 7%

At roughly $3 trillion, the UK economy is large and contains multitudes. Not as massive as it might have been as a result of Brexit, Covid-19 and Russia’s invasion of Ukraine, but enough to rank sixth in the world.

Rishi Sunak is scrambling to turn around the Tories' fortunes but time is running out for him to deliver on his 'five priorities' for Government ahead of the next general election - see how he's fared

Financial Conduct Authority to meet executives on Thursday as part of its investigation into savings market

Millions of UK mortgage borrowers could experience significant payment shocks this year. This is happening due to a steep rise in the Bank of England’s base rate over the past year to the highest level since 2008. This rate feeds through to many of the mortgage deals taken out by…

Caution needed rather than panic measures over short-term risks after credibility of government and Bank of England hit