All the updated news related to Bank of England

All the news related to Bank of England updated in real time

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Cash-strapped homeowners urged to look for cheaper mortgage deals as rates rise

Cash-strapped homeowners are being urged to see if they could switch and save on their mortgage after the Bank of England raised the base rate from 0.5% to 0.75%. The latest increase is the third in recent months, following previous hikes from 0.1% ...

17 Mar 2022 at 14:55

Sanctions highlight need for regulation of crypto market, Bank officials say

The ability for Russian elites to circumvent sanctions using cryptocurrencies makes it clear that regulators need to respond, the Bank of England has said. Officials pointed out that it is unlikely that Russians will be able to launder their ...

24 Mar 2022 at 15:55

Personal Finance

Halifax apologises after wrongly telling customers base rate had changed

Mortgage giant Halifax has apologised after sending emails in error to customers, wrongly telling them that the Bank of England base rate had changed. The emails, which said “the Bank of England base rate has changed today”, were sent out ...

03 May 2022 at 16:25

Bank of England set to hike interest rates to 13-year high amid cost crunch

Interest rates are expected to be hiked once again on Thursday to their highest level for 13 years as the Bank of England battles to cool rocketing inflation. The Bank’s policymakers are predicted to increase rates from 0.75% to 1% – a ...

01 May 2022 at 10:25

UK faces recession before inflation can be controlled, MPs told

The UK will probably have to go through a “mild recession” if not worse before inflation comes back to a more manageable level, top economists have warned MPs. London School of Economics professor Charles Goodhart said that wages and ...

11 May 2022 at 18:25

Bank raises rates to 1% and warns cost crisis will send economy into reverse

The Bank of England raised interest rates to 1% as it warned the economy will go into reverse and that inflation will peak at more than 10% as the Ukraine war compounds a crippling cost-of-living crisis. Members of the Bank’s ...

05 May 2022 at 16:25

City

Metro Bank losses hit £245m as lender reels from fines and sanctions

Metro Bank suffered a heavy loss last year as the high street lender put aside cash to cover fines imposed on it by UK regulators and over historical global sanctions. The bank said pre-tax losses for 2021 hit £245.1 million,...

23 Feb 2022 at 11:55

Building a strong UK economy can help fight international aggression, Sunak says

The UK must build a strong economy so it can invest in defence and project its values around the world, the Chancellor has said as Russia invaded Ukraine. Ahead of the Prime Minister’s announcement on promised further ...

24 Feb 2022 at 15:25

Personal Finance

Increase in borrowers remortgaging homes at end of 2021

The number of home-owners remortgaging their properties jumped up towards pre-coronavirus pandemic levels at the end of last year, according to Bank of England figures. The Bank said the share of home loans advanced ...

08 Mar 2022 at 14:55

Scotland

Cost of raising a child could be cut by a third for less well off, study says

Scottish Government policies and lower childcare costs could reduce the “cost of a child” for low-income families by almost a third, research has found. While this is a greater reduction than elsewhere in the UK, ...

09 Mar 2022 at 01:25

City

Pet collars and meat-free sausages added to inflation basket but suits out

The work-from-home shift due to the Covid-19 pandemic has claimed men’s suits from the basket of goods used to calculate inflation, the Office for National Statistics (ONS) has said. Economists at the agency ...

14 Mar 2022 at 13:25

Consumer credit borrowing grows at fastest annual pace in two years

Households leaned on their credit cards for support in February as consumer credit borrowing grew at the fastest annual pace in two years. The annual growth rate for all consumer credit accelerated to 4.4% ...

29 Mar 2022 at 12:25

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