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The Bank of England has today lowered interest rates by a quarter of a percentage point to 4.5%

Bank of England cuts interest rates to 4.5%

The Bank of England has today lowered interest rates by a quarter of a percentage point, judging a sharp upward revision to its inflation forecasts for this year will prove temporary.

Business • 06 Feb 25

The UK jobless rate rose slightly to 4.4% in the three months to November - its highest since the three months to May

UK wage growth ticks up but payrolls plunge

British pay growth in the private sector picked up in the three months to November but a plunge in payrolls added to signs of a softer labour market, according to data today that offered mixed signals for Bank of England interest rate-setters.

Business • 21 Jan 25

UK food sales sank to their lowest level since 2013 in December, new ONS figures show today

UK retail sales fall unexpectedly in December - ONS

British retail sales fell unexpectedly in December, according to data today that raised the risk of an economic contraction in the fourth quarter, adding to the challenges facing finance minister Rachel Reeves.

Business • 17 Jan 25

The Bank of England is to delay the implementation of tougher global bank capital requirements by a year

Bank of England delays Basel bank capital rules by a year

The Bank of England said today it would delay the implementation of tougher bank capital requirements by one year until January 2027, amid an aggressive pushback against the stricter global standards in the US.

Business • 17 Jan 25

The UK economy, which was slow to recover from the Covid-19 pandemic, showed zero growth in the third quarter when uncertainty about the upcoming budget hit businesses

UK economy barely grew in November after Reeves budget

Britain's economic output struggled to grow in November after finance minister Rachel Reeves announced big tax increases for businesses, official data showed today.

Business • 16 Jan 25

The UK annual inflation rate fell to 2.5% last month, new figues show today

UK annual inflation dips to 2.5% in December

British inflation unexpectedly slowed last month and core measures of price growth - tracked by the Bank of England - fell more sharply, according to data that will be welcomed by finance minister Rachel Reeves after recent a market selloff.

Business • 15 Jan 25

Sterling edges up in holiday trading

Sterling ticked higher after searching for direction on Friday, but looked set to wrap up a holiday-thinned trading week lower against a dominating dollar.

Business • 27 Dec 24

The Bank of England held UK interest rates steady at 4.75% today

Bank of England keeps rates steady, policy split widens

The Bank of England kept its main interest rate unchanged at 4.75% today but policymakers became more divided about whether rate cuts were needed to tackle a slowing economy.

Business • 19 Dec 24

UK consumer prices rose by an annual 2.6% in November, up from an increase of 2.3% in October and moving further away from September's 1.7% rise, new figures show today

UK inflation hits 2.6% in November - ONS

British inflation rose to its highest in eight months in November but an underlying measure of price growth watched closely by the Bank of England held steady, offering the central bank a little bit of relief.

Business • 18 Dec 24

Average weekly UK earnings, excluding bonuses, were 5.2% higher in the three months to the end of October than a year ago

UK pay rises by more than expected, adding to BoE worries

British pay rose by more than expected in the three months to October, official data showed today, potentially adding to the Bank of England's caution about how quickly to cut interest rates.

Business • 17 Dec 24

Last month, the Bank of England trimmed its annual growth forecast for the UK economy for 2024 to 1% from 1.25%

UK economy contracts unexpectedly by 0.1% in October

Britain's economy shrank for a second month in October in the run-up to the new government's first budget, the first back-to-back falls in output since the onset of the Covid-19 pandemic.

Business • 13 Dec 24

The Bank of England remains on alert about price pressures in Britain's jobs market that have subsided more clearly elsewhere

Bank of England set to keep rates on hold next week

The Bank of England looks set to keep interest rates on hold next week as it moves more slowly to cut borrowing costs than central banks in Europe and the US.

Business • 11 Dec 24

Bank of England sticks to 'gradual' script for rate cuts

Bank of England Governor Andrew Bailey reiterated in an interview published today that gradual cuts in interest rates are likely over the next year, adding that the process of falling inflation is well embedded.

Business • 04 Dec 24

A survey from Asda this week said a drop in households' disposable income and rising inflation could subdue Christmas spending

UK shop prices fall less sharply in November - survey

Prices in British shops fell less sharply this month, according to a survey from the British Retail Consortium today that suggested consumers could face renewed pressure on their spending power.

Business • 26 Nov 24

A rise in UK regulated domestic energy prices added to overall price growth in October, new figures show today

UK inflation up more than expected to 2.3% in October

British inflation rose to an annual rate of 2.3% in October from 1.7% in September, official figures showed today.

Business • 20 Nov 24

Bank of England boss warns on 'fragmenting world economy'

The Governor of the Bank of England has warned over "fragmenting" the world economy amid promises from Donald Trump that he will impose steep trade tariffs on other countries.

Business • 19 Nov 24

Today's GDP figures will come as an early set back for British finance minister Rachel Reeves

UK economy grows by just 0.1% in third quarter of 2024

Britain's economy grew by a slower than expected 0.1% in the third second quarter of 2024, official figures showed today.

Business • 15 Nov 24

The Bank of England's Monetary Policy Committee has today voted 8-1 to cut interest rates to 4.75% from 5%.

Bank of England cuts rates but sees higher inflation

The Bank of England cut interest rates today for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government's first budget would lead to higher inflation and economic growth.

Business • 07 Nov 24

British house prices hit a new record high in October but the 0.2% rise from September was the smallest in three months, new figures from Halifax show today

UK house prices hit record high in October - Halifax

British house prices hit a new record high in October but the 0.2% rise from September was the smallest in three months and demand could remain subdued if interest rates fall only slowly and as taxes on home-buyers go up, mortgage lender Halifax said.

Business • 07 Nov 24

British inflation fell to an annual rate of 1.7% in September from 2.2% in August, new figures show today

UK inflation falls more than expected to 1.7%

British inflation dropped sharply in September and key price gauges watched by the Bank of England also fell, bolstering bets on an interest rate cut next month and helping finance minister Rachel Reeves before her first budget.

Business • 16 Oct 24

Average weekly UK earnings, excluding bonuses, were 4.9% higher than a year earlier in the three months to the end of August

UK pay grows by slowest pace in two years

British pay grew at its slowest pace in more than two years in the three months to August and vacancies fell again, according official data that will probably be welcomed by the Bank of England as it considers when to cut interest rates again.

Business • 15 Oct 24

Bailey says BoE could become 'more activist' on rate cuts

The Bank of England could move more quickly to cut interest rates if there is further good news on inflation but conflict in the Middle East could push up oil prices, Governor Andrew Bailey told the Guardian newspaper.

Business • 03 Oct 24

UK economic output grew by 0.5% in the second quarter, slower than previously though

UK economy grew by slower-than-thought 0.5% in Q2

Britain's economy grew more slowly than previously thought in the second quarter but there were also some signs of improvement in household finances ahead of next month's annual budget.

Business • 30 Sep 24

Bank of England Governor Andrew Bailey said he was 'very encouraged' by the downward path of UK inflation

BoE's Bailey says interest rates gradually heading down

The Bank of England should be able to lower interest rates gradually as it gains confidence that inflation will remain close to its 2% target, Governor Andrew Bailey said in an interview published today.

Business • 24 Sep 24

Bank of England keeps UK interest rates at 5%

Bank of England keeps rates at 5%, extends bonds plan

The Bank of England held interest rates at 5% today and voted to run down its stock of British government bonds by another £100 billion over the coming 12 months, weighing on the government's finances.

Business • 19 Sep 24