The Latest Breaking News from The Bank of England

As the cost of living crisis bites, consumers are asking how so many businesses have maintained or raised their profits

“It does feel like there’s greed-flation and it’s the customers who are suffering for it. Wages and pensions haven’t increased either so it’s not weighing out the increase, it’ll push people further into a money crisis and debt"

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…

Bank of England data shows families took out £4.6bn last month to help them cope with the cost of living crisis

The typical five-year fixed-rate deal is now 5.94% - a further blow to homeowners struggling to secure new deals

The typical five-year fixed-rate deal for homeowners is now 5.94%, Moneyfactscompare.co.uk said.

Tory ministers have a long record of making rather callous statements about the economy, said Paul Waugh in The i Paper.

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