Tag: Bank of England

• 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.

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• 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%.

• Sunday, November 5th 2023 - 10:23 UTC

  UK economy on flat growth track, with decreasing inflation, BoE report

  

  The UK economy is on flat growth for a couple of years, while government forecasts of greater activity vanish, and the Bank of England could still rise interest rates further. In effect the BoE has warned rates will remain high for some time or even rise higher. Rate currently stands at 5,25%, the highest in fifteen years.

• Thursday, September 21st 2023 - 20:23 UTC

  In a tight vote, Bank of England leaves interest rates unchanged, still the highest for 15 years

  

  The United Kingdom interest rates were left unchanged after the Bank of England said price rises were slowing faster than expected. Interest rates were held at 5.25%, already their highest for 15 years, and comes after figures on Wednesday revealed an unexpected slowdown in inflation in August.

• Wednesday, September 20th 2023 - 13:18 UTC

  UK will have the highest inflation this year among G7 members, OECD report

  

  Growth in the global economy is expected to remain “sub-par” next year, according to the Organization for Economic Cooperation and Development (OECD) which cut its forecast for 2024 from 2.9% to 2.7% on Tuesday.

• Thursday, September 7th 2023 - 10:08 UTC

  Bank of England says interest rates are close to their peak, but could inch further

  

  Bank of England Governor Andrew Bailey has said interest rates are close to their peak, but that they may still have further to rise. He told MPs on Wednesday “we are much nearer now to the top of the cycle” of rate rises.

• Friday, August 4th 2023 - 08:17 UTC

  Bank of England rate up to 5,25%, highest in fifteen years; no prospects of abating

  

  The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation. The quarter percentage point hike was the bank's 14th in a row.