The Bank of England has raised the UK interest rate for the 12th consecutive time, hiking the base rate from 4.25% to 4.5% – the highest level in 15 years. The decision by the BoE’s Monetary Policy Committee (MPC) to raise the interest rate will increase mortgage costs for homeowners. Increasing the cost of borrowing […]
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The Bank of England has raised interest rates by 0.5% to 1.75% and given a bleak warning that the UK faces a lengthy recession that will hit millions of the most vulnerable people hardest. UK interest rates are now at the highest level since January 2009 and today’s 0.5% hike is the steepest in 27 […]
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UK interest rates have risen to 1% – their highest level for 13 years – with the Bank of England (BoE) warning the economy will slip into recession this year as experts predict inflation will go above 10%. The bank’s grim forecast hit the value of the pound which slumped to a two-year low, losing […]
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Chancellor of the exchequer Rishi Sunak has stalled the prime minister’s already delayed energy security strategy. It is nearly three weeks since Boris Johnson pledged the government’s energy plan will be published “in the next few days”. However, Sunak “doesn’t want to provide any new money” for schemes to help wean the UK off its […]
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British bankers are celebrating bumper bonuses set to exceed £4 billion while UK households struggle amidst the cost of living crisis. The Bank of England (BoE) today announced inflation has hit a new 30-year high in January with consumer prices up 5.5% on the year. Surging prices for energy, clothing and footwear is behind the […]
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UK inflation has surged at its fastest rate since records began with a 3.2% rise in August carried by steep rises in food and drink and home furnishing prices. Figures released today (September 15) by the Office for National Statistics (ONS) show the highest monthly rise since the Bank of England (BoE) gained independence to […]
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Families will be able to reunite at Christmas across the UK after the leaders of the four nations reach agreement about “bubbling” over the festivities. The rules will allow up to three households to meet-up and mix over five days between December 23-27, with travel restrictions around the whole of the UK relaxed for the […]
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The Bank of England (BoE) is mulling over slashing key policy rates to below zero as part of its efforts to support the UK economy. In a television interview on Tuesday, BoE Deputy Governor Ben Broadbent said that the central bank was open to the possibility of negative interest rates, but that it was a […]
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The UK government is offering government-backed rescue loans to small businesses that took a beating from the global pandemic. The plan came after calls on the government to revamp its emergency loan scheme following denied support for thousands of cash-starved firms. Chancellor Rishi Sunak said small businesses are guaranteed of bounce-back loans with full backing […]
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Brexit will not be delayed by the coronavirus outbreak, a spokesman for the prime minister has confirmed, saying the UK will not ask for an extension to the transition period which expires on December 31, 2020. However, the outbreak could push the UK’s economy to the brink of recession, warned Goldman Sachs as the number […]
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