Bank of England

Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK's energy regulator Ofgem.

Callum Conway-Shaw Dec 20, 2023

The United Kingdom has witnessed a notable drop in the average cost of a two-year fixed-rate mortgage, falling below six per cent for the first time in nearly six months.

Pragati Singh Dec 11, 2023

The Bank of England recently released its Financial Stability Report, spotlighting the resilience of UK households and businesses in the face of escalating interest rates.

Pragati Singh Dec 07, 2023

AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.

Callum Conway-Shaw Dec 06, 2023

Rightmove foresees sellers having to adopt more competitive pricing strategies in 2024 to secure transactions.

Pragati Singh Dec 05, 2023

The latest research from the consumer group Which? unveiled that 9.8 per cent of surveyed households admitted to missing or defaulting on payments for loans, credit cards, housing, or household bills during that period.

Pragati Singh Dec 05, 2023

The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.

Pragati Singh Nov 30, 2023

The report highlights the risk of a vicious cycle, where low interest rates fail to stimulate meaningful economic growth and cause a recession.

Jastine Beatrice Yap Nov 29, 2023

The financial impacts of Brexit have left UK business investment levels "chilled", according to the Deputy Governor of the Bank of England.

Danielle Summer Nov 28, 2023

In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.

Callum Conway-Shaw Nov 15, 2023

Mortgage brokers have hailed Nationwide's decision as a "watershed moment", anticipating a revitalisation of the property market and instilling hope among borrowers.

Pragati Singh Nov 10, 2023

UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.

Pratiti Nath Nov 08, 2023

Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.

Callum Conway-Shaw Nov 03, 2023

HSBC, headquartered in London but primarily focused on the Asian market, announced pre-tax profits of $7.7 billion (£6.4 billion) for the third quarter spanning from July to September.

Pragati Singh Oct 31, 2023

The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.

Pragati Singh Oct 26, 2023

The figures are worrying reading, as the Bank of England (BoE) prepares for its latest interest rate decision next week.

Callum Conway-Shaw Oct 25, 2023

CPI reported a year-on-year increase of 6.7 per cent, maintaining the same pace as the previous month, contrary to economists' predictions of a dip to 6.6 per cent.

Pragati Singh Oct 18, 2023

The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.

Pragati Singh Oct 11, 2023

According to Nationwide, the largest British building society, the seasonally adjusted housing price index revealed that prices remained stagnant in September, following a 0.8% decrease in August.

Pragati Singh Oct 02, 2023

The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.

Callum Conway-Shaw Sep 21, 2023

Whilst Whitehall says the slight drop in inflation month-on-month means its policies are working, the UK still has one of the highest inflation rates in the G20.

Mehar Sultan Sep 21, 2023

Liz Truss has vehemently defended the policies she tried to enact during her short time as prime minister. Mark Carney also criticised "far-right populists" and Brexiteers for having a "basic misunderstanding of what drives economies".

Birupaksh Kaundilya Sep 19, 2023

Initial GDP figures for July show a fall of 0.5 per cent, a worse performance than expected by economists, increasing the fears of a "mild recession".

Mehar Sultan Sep 13, 2023

The abrupt increase in mortgage rates in recent months has been a response to the Bank of England's actions, which have raised interest rates 14 times since December 2021.

Pragati Singh Sep 04, 2023

UK small businesses are postponing their investment plans as they grapple with inflationary pressures and higher interest rates in line with fiscal policy.

Liz Slee Aug 31, 2023

New research from Mind has revealed the detrimental impact that soaring mortgage costs are having on people's mental health, as well as their finances.

Taylor J. Mustafa Aug 09, 2023

The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.

Pragati Singh Jul 13, 2023

UK house prices grew slightly in June but fell at the fastest rate since 2009, impacted by soaring mortgage costs, with two-year fixed-rate mortgage rates climbing past six per cent.

Pragati Singh Jul 04, 2023

Apart from global factors, UK policy decisions have exacerbated inflation – whether post-pandemic public spending or the slow pace of interest rate hikes.

Mehar Sultan Jun 23, 2023

The Bank of England is expected today to raise the interest rate for the 13th time in a row, despite recent forecasts of an improving economic outlook.

Callum Conway-Shaw Jun 22, 2023