The Latest Breaking News from The Bank of England

Wetherspoons' cash policy change over Scottish notes triggers backlash across the UK amid fraud warnings and growing payment controversy.

Economists have predicted that Consumer Prices Index inflation will have hit 4% in September.

The Bank of England governor, speaking at the G30 International Banking Seminar, highlighted a decline in the UK’s potential growth rate.

Huw Pill, chief economist at the Bank, said in a speech in London that he ‘would expect further cuts’ in the coming year.

Interest-free periods on credit cards both for balance transfers and for purchases are expected by lenders to rise, the Bank of England said.

A report also anticipates a rise in credit card defaults in the coming months

The rate-setter said he thinks the likelihood of a ‘soft landing’ following the recent uptick in inflation is now receding.

Average two and five-year fixed mortgage rates have risen for the first time in months

With sticky inflation, ‘any imminent base rate cuts by the Bank of England seem unlikely’, Moneyfacts said.

Higher than expected inflation has dashed hopes of a series of interest rate cuts from the Bank of England

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