Bank Of England Freezes Interest Rate At 16-year High
The Bank of England on Thursday held its key interest rate at a 16-year high, opting against a reduction as inflation remains elevated despite recent slowdowns.
Sticky UK Inflation Stokes Bank Of England Rate-cut Debate
British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.
Bank Of England Freezes Rate As Inflation Stays High
The Bank of England froze its key interest rate Thursday for a fourth meeting in a row, matching US Federal Reserve policy, as high inflation prevents cuts to borrowing costs.
Banking Watchdog Issues AI Warning As World Leaders Gather In Davos
Although the conference in Davos maintains a focus on the economy, AI is likely to play a big role in the discussions.
Bank of England Faces Pressure to Adjust Interest Rates as Inflation Forecasts Take a Surprise Turn
Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.
Bank of England Contemplates Earlier Interest Rate Cut Amidst Forecasts of Decreasing Inflation
Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.
UK Inflation Hits Lowest Level In More Than Two Years
British inflation has slowed sharply to the lowest level in more than two years on falling petrol prices, official data showed Wednesday, easing a cost-of-living crisis after aggressive interest-rate hikes.
Bank Of England Holds Interest Rate, Warns On Inflation
The Bank of England on Thursday held its key interest rate and warned it will remain high to tackle inflation, indicating in contrast with the Federal Reserve that cuts were unlikely any time soon.
Bank of England's Financial Stability Report Highlights Resilience Amid Rising Interest Rates
The Bank of England recently released its Financial Stability Report, spotlighting the resilience of UK households and businesses in the face of escalating interest rates.
Bank of England To Assess Risks AI Poses To UK Financial Stability
AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.
Tories Slammed For Brexit After Bank of England Says It Has 'Chilled' UK Economy
The financial impacts of Brexit have left UK business investment levels "chilled", according to the Deputy Governor of the Bank of England.
Bank of England Holds Interest Rates At 5.25% for Second Time
Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.
Stocks Soar, Dollar Slumps As Markets Eye End To US Rate Hikes
Stock markets and oil prices jumped while the dollar slid Thursday after the Federal Reserve hinted it was at an end of its rate-tightening cycle as inflation retreats.
UK Economy at Risk of Recession as Business Activity Declines and Cost Pressures Ease
The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.
Labour Strikes a Confident Note in Liverpool Despite the News of Turmoil in the Middle East
Rachel Reeves was in the limelight in Liverpool, described as the would-be "first female Chancellor ever in Britain", and also the "best qualified".
Keir Starmer promises 'decade of national renewal' in Labour speech
Starmer claimed the government was exploiting the country's problems rather than solving them, and appealed to disillusioned Conservative voters to join Labour.
Labour Party Conference Enters Third Day; Starmer to Speak Following Hamas Attacks in Israel
The meeting comes with the centre-left party enjoying double-digit leads in most opinion polls and seemingly on the cusp of returning to power.
Bank of England Holds Interest Rates at 5.25%
The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.
Ex-Bank Of England Governor Mark Carney Says Former PM Liz Truss Turned Britain Into 'Argentina On The Channel'
Liz Truss has vehemently defended the policies she tried to enact during her short time as prime minister. Mark Carney also criticised "far-right populists" and Brexiteers for having a "basic misunderstanding of what drives economies".
Stocks waver amid jitters over more tough Central Bank actions
Wall Street and European stock markets retreated on Wednesday as worries about higher oil prices and possible additional interest rate hikes weighed on sentiment.
Bank of England raises UK interest rates to a record 5.25%
The last time rates were this high was in April 2008, in the midst of the global financial crash, with the UK's central bank expecting inflation to fall below five per cent in the autumn or winter.
Bank of England warns of rising mortgage payments and potential struggles for UK households
The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.
UK unemployment climbs as inflation weighs on economy
UK unemployment rose back to four percent in the three months to the end of May, official data showed Tuesday, as the economy struggles with stubbornly-high inflation.
Britain's mortgage crisis, borrowers to be given 12-month grace period before repossession
Rising costs, affordability concerns, and economic uncertainty impact the housing market, with interest rates now standing at five per cent in the UK, the highest level since April 2008.
Global stocks mixed as central banks hike rates
Global stocks were mixed Thursday with European bourses falling after a clutch of central banks in Europe hiked interest rates again, while US equities shook off recent weakness.
Interest rate hike heaps pressure on cash-strapped Britons
Millions of Britons are facing fresh mortgage misery after the Bank of England increased interest rates by an unexpected half-point, putting homeowners at risk of higher repayments on their loans during a cost-of-living crisis.
UK inflation slides to 13-month low, stays elevated
UK food price inflation stood at 19 percent in April, around the highest level in more than 45 years.
Stock markets down as traders weigh inflation, rate hikes
Most European indices closed down as well, including the FTSE 100 in London which dipped into the red after earlier gains.
Bank of England lifts interest rate to 15-year high
Global policymakers are battling elevated inflation caused largely by runaway energy bills following last year's invasion of Ukraine by major oil and gas producer Russia.
UK interest rates raised for 12th time in a row to highest level for almost 15 years
UK interest rates have been raised for the 12th time in a row in a further attempt by the Bank of England to slow the rising cost of living, increasing the Bank's base rate from 4.25 to 4.5 per cent.