The Bank of England has kept interest rates on hold at 0.75% after August’s hike, but it confirmed further increases are likely to be needed to rein in inflation.
Bank of England
Bank of England policymakers are set to sit tight on interest rates on Thursday after last month’s milestone hike and following encouraging news on the economy.
Bank of England policymakers are set to sit tight on interest rates next week after last month’s milestone hike and amid a mixed performance across the economy.
Sterling jumped on Wednesday afternoon following reports that Britain and Germany are preparing to drop key Brexit demands, paving the way to a deal in the coming months.
Bank of England Governor Mark Carney has confirmed he is in talks with the Treasury over extending his tenure as he pledged to do “whatever” he can to support the UK through Brexit.
The Treasury has played down reports suggesting that Mark Carney is being asked to remain as Bank of England Governor until 2020.
Britain would take “unilateral action” in the event of a no-deal Brexit to keep trade and transport flowing freely, Dominic Raab is set to pledge.
Bank of England economists have waded into the debate over the future of 1p and 2p coins after claiming that scrapping coppers from circulation would not push up inflation.
Artificial intelligence has the potential to wipe out thousands of British jobs, the Bank of England’s chief economist has warned.
Persimmon will unveil results for the first half of the year this week, with investors keen to hear management’s view on whether the increase in interest rates is starting to impact sales.
Inflation rose last month, largely due to higher transport costs, new official figures show.
Inflation is predicted to rise for the first time since November when official figures are released on Wednesday, hitting consumers in the pocket.
The Treasury is putting the finishing touches to a job advert for the next Bank of England Governor as it prepares the ground for Mark Carney’s successor.
The rebound in second-quarter UK growth was in line with Bank of England forecasts, but economists have raised questions over whether last week’s rate hike was justified.
The pound continued its downward slide on Thursday as fears of a no-deal Brexit continued to pile pressure on the British currency.
The pound slumped during trading on Thursday, despite the Bank of England raising interest rates to the highest level since 2009.
The Bank of England’s move to hike interest rates marks only the second increase since the financial crisis and takes rates to the highest level for nearly 10 years.
The Bank of England has increased interest rates to their highest level for nearly 10 years and said further “gradual” rises are on the cards.
Savers are being warned it could take months before they see much impact from the base rate hike to 0.75%.
The Bank of England has increased interest rates to their highest level for nearly 10 years after the summer heatwave helped the economy bounce back from a snow-hit start to the year.