Tag: Bank of England

• Wednesday, February 19th 2025 - 15:02 UTC

  UK January inflation climbs to 3%; Bank of England anticipates ‘bumpy road’ ahead

  

  The UK rate of inflation reached 3% in January, from 2.5% in December, higher than forecasts and with the Bank of England anticipating a “bumpy road” ahead. Forecasts are that it will hit 3.7% later in the year and moving even further away from the Bank's 2% target.

• Sunday, February 9th 2025 - 19:28 UTC

  BoE chair fears “fragmentation of world economy” if Trump abandons IMF and World Bank

  

  The Governor of the Bank of England Andres Bailey has urged continued US support for two major global economic institutions. According to a piece published by BBC, Mr. Bailey said he was “following extremely closely” whether the Trump administration would change its support for the International Monetary Fund (IMF) and the World Bank.

• Sunday, February 9th 2025 - 19:04 UTC

  BoE cuts rate to 4.50% but slashed UK growth to 0.75% and ups inflation estimate to 3.5%

  

  The Bank of England last Thursday cut interest rates 25 percentage points to 4,50%, but at the same time slashed its growth forecast for the year and warned the near-term outlook for the economy had become complicated.

• Friday, December 20th 2024 - 10:17 UTC

  Bank of England leaves rate unchanged at 4.75%, but inflation is increasing with a no economic growth in 2024

  

  The Bank of England on Thursday left interest rates unchanged at 4.75%, despite an inflation rate that reached an eight-month high, pushed by services and wage increases. However three members of the Bank’s Monetary Policy Committee voted for a rate reduction, while six insisted in keeping them on hold.

• Friday, November 8th 2024 - 19:17 UTC

  Bank of England cut the key interest rate to 4.75%, but anticipates a more cautious approach to further trims

  

  The Bank of England in an almost unanimous decision cut interest rates by 25 basis points on Thursday, a boost relief for mortgage holders, but also raised its inflation forecast following on Labor’s government budget and global uncertainty, which most probably conditions future policy easing.

• Thursday, September 19th 2024 - 07:35 UTC

  Bank of England decides on interest rate; UK August consumer inflation, 2,2%

  

  Consumer inflation in UK during August remained at an annual 2,2%, helped by lower fuel prices together with hotels and restaurant services, as reported by the Office of National Statistics, ONS Wednesday.

• Sunday, June 2nd 2024 - 10:04 UTC

  Banknote featuring King Charles III will be issued 5 June, Bank of England

  

  Banknotes featuring a portrait of King Charles III will be issued from 5 June 2024. The portrait of the King will appear on existing designs of all four banknotes (£5, £10, £20, and £50), with no other changes to the existing designs. This means you can check these notes in the same way you can check the polymer banknotes featuring Queen Elizabeth, announced the Bank of England.

• Friday, May 10th 2024 - 10:46 UTC

  Bank of England keeps rate at 5,25%; March inflation 3,2%, but services remain high, 6%

  

  The Bank of England’s Monetary Policy Committee (MPC) at its meeting ending on 8 May 2024, voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

• Saturday, March 23rd 2024 - 14:24 UTC

  Bank of England confirms restrictive monetary policy: keeps rates unchanged

  

  As decided by the US Federal Reserve, the Bank of England Monetary Policy Committee, (MPC) at its meeting ending on 20 March 2024, voted by a majority of 8–1 to maintain Bank Rate at 5.25%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%.

• Friday, February 2nd 2024 - 03:00 UTC

  Bank of England leaves basic rate at 5,25%; little space for any cuts

  

  The Bank of England Monetary Policy Committee, MPC, at its meeting ending on 31 January 2024, voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Two members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%.