All the updated news related to Bank of England

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Bank raises rates to 0.75% as it warns inflation could reach double figures

The Bank of England has raised interest rates again as it warned the Ukraine conflict could see under-pressure households hit with double-digit inflation later this year. Members of the Bank’s Monetary Policy Committee (MPC) voted eight to one to ...

17 Mar 2022 at 13:25

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....

17 Mar 2022 at 14:55

Ukraine war clouds economic outlook and puts borrowers under strain, warns Bank

The Ukraine war has increased economic uncertainty in the UK and will put pressure on borrowers as soaring energy prices compound the cost-of-living crisis, the Bank of England has warned. In the Bank’s latest Financial Policy Committee (FPC) ...

24 Mar 2022 at 13:25

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

UK facing unprecedented hit to national income from inflation – Bank deputy

Bank of England deputy governor Ben Broadbent has warned Britain is likely to be facing the worst ever external hit to national income from inflation as the Ukraine war compounds the cost-of- living crisis. In a speech in London, Mr ...

30 Mar 2022 at 13:25

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 ...

03 May 2022 at 16:25

Bank of England to hike interest rates to 13-year high to tackle 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 ...

04 May 2022 at 16:25

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

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 ...

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 ...

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 ...

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 ...

24 Feb 2022 at 15:25

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