Interest rates rise to 4% as Bank of England battles inflation
First rate hike in over two years set to hit mortgage holders Mortgage costs are set to rise for hundreds of thousands of UK homeowners after the Bank of England increased its base rate to 4%, its first hike since August 2023. The rate has gone up from 3.75%, with higher petrol and diesel prices […]
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UK growth forecast upgraded by IMF, but 2027 slowdown looms
Energy bills and council tax increases add to household cost pressures The International Monetary Fund (IMF) expects the UK economy to expand by 1.3% in 2026, revising its earlier prediction upwards. However, it anticipates a tougher year ahead, with expensive energy and higher interest rates likely to slow growth in 2027. The global economy has […]
3 weeks ago
Bank of England holds rates as inflation hits six-month high
The energy shock could send UK inflation even higher Inflation has picked up again, putting the Bank of England in a difficult position as energy prices continue to rise. The latest figures show the Consumer Prices Index reached 3.1% in August, up from 2.9% in July. Petrol, diesel and air fares were among the biggest […]
1 month ago
Why the Middle East is keeping UK interest rates on hold
The Bank Of England is holding steady Journalists gathered outside the Bank of England on Thursday for a decision that, on the face of it, looked like a non-event. Rates stayed put. But the reason interest rates did not fall tells you almost everything about where the British economy sits this summer — and about […]
3 months ago