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 World Cup gave the UK economy an unexpected boost that increased GDP by 0.1% between October and November. Economists polled by Reuters had forecast a 0.2% contraction for the period but the rise “is likely to increase pressure on the Bank of England to raise interest rates,” reports the Financial Times. Cost of living […]
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UK families will be hit with a record rise in energy costs leading to the biggest fall in living standards since records began, the Bank of England (BoE) said on what has been dubbed ‘Black Thursday’. Energy regulator Ofgem today (February 3) confirmed the price cap will rise by 54% in April while the BoE […]
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