General view of the Bank of England building in London. Sopa images | Light rocket | Getty Images It keeps the central bank’s policy rate at a 16-year high of 5.25%, where it has been since August 2023. Seven members of the Monetary Policy Committee voted in favor of maintaining it, while two members favored … Read more
Image source, Getty Images Item information Author, Mitchell Labiak and Kevin Peachey Role, Business reporter and correspondent cost of living 4 hours ago The Bank of England is expected to keep interest rates at 5.25% for the seventh time in a row on Thursday. They think the Bank will wait and see whether inflation remains … Read more
Image source, Getty Images Item information Author, Mitchell Labiak and Kevin Peachey Role, Business reporter and correspondent cost of living 2 hours ago The Bank of England is expected to keep interest rates at 5.25% for the seventh time in a row on Thursday. They think the Bank will wait and see whether inflation remains … Read more
Stay informed with free updates Simply log in to the British inflation myFT Digest – delivered straight to your inbox. Inflation may have fallen to its lowest level in three years, but anyone paying for services – from a pub meal to a hotel stay – is still facing prices rising faster than expected. Although … Read more
LONDON — Britain had some reason to celebrate Wednesday morning as headline inflation hit the Bank of England’s 2% target for the first time in almost three years. But the print only served to convince further traders that an interest rate cut is not imminent. Money market pricing at 11am in London implied only a … Read more
Money market pricing at 11am in London implied just a 5% probability of a bank rate cut at Thursday’s BOE meeting – after registering stronger odds earlier in the week. Bets on an August cut were also cut to around 30%. While 2% inflation is an important milestone – not least as UK politicians set … Read more
Experts are reminding bank customers to grab the best savings deals available as several accounts offer accounts with interest rates above six percent. Savers have benefited in recent years from the Bank of England’s decision to increase the base rate charged by major banks and building societies to their customers. Rachel Springall, financial expert at … Read more
Monday June 17, 2024 6:00 am Part Facebook Share on Facebook X Share on Twitter LinkedIn Share on LinkedIn WhatsApp Share on WhatsApp E-mail Share via email Life isn’t much better for renters either, as competition for affordable housing also drives up rents. Renting remains significantly more affordable in Britain than buying a house with … Read more
Sunday June 16, 2024 3:50 PM Part Facebook Share on Facebook X Share on Twitter LinkedIn Share on LinkedIn WhatsApp Share on WhatsApp E-mail Share via email The Monetary Policy Committee (MPC) left the door open to a rate cut in June at its last meeting in May, but since then a number of data … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. Shadow Chancellor Rachel Reeves has warned of the “dangers” of overhauling the way the Bank of England pays interest to commercial lenders on their deposits, pouring cold water on an idea that some economists have … Read more