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UK interest rates could take longer to fall further after the Bank of England forecast that inflation will creep higher after last week's Budget. The Bank cut interest rates to 4.75% from 5% in a ...
The Bank of England is expected to hold interest rates steady at 4.75 per cent on Thursday after it was revealed that inflation in November rose to 2.6 per cent, above the central bank’s target.
Policymakers at the Bank of England opted to reduce interest rates to 4.75 per cent today, down from 5 per cent. They had also been cut by 0.25 percentage points in August, which marked the first ...
The Bank of England‘s governor Andrew Bailey has described economic growth in the UK as “subdued”, as a major charity has warned that keeping interest rates unchanged at 5.25 per cent will ...
Under the Bank of England Act 1998 (c. 11) the Bank's Governor must write an open letter of explanation to the Chancellor of the Exchequer if inflation exceeds the target by more than one percentage point in either direction, and once every three months thereafter until prices are back within the allowed range. It should also set out what plans ...
View of the Bank of England taken from the north-west angle as erected in 1805 (J. M. Gandy, 1825). At the start of the 19th century a plan was enacted by John Soane for the further extension of the bank's premises, this time to the north-west (necessitating the rerouting of Princes Street, to form the new western boundary of the site).
UK interest rates have been held at 4.75% following a divided vote among Bank of England policymakers, as they weighed up concerns over a stagnating economy and persistent inflation. The Bank’s ...
The GDP per capita showed similar variations with London having a GDP per head of £56,000 compared with the North East of England at £23,000 in 2024. [3] Different regions also see different rates of unemployment; in early 2024, the average UK unemployment rate was 4.3%, ranging from the East Midlands at 5.6% to Northern Ireland at 2.1%. [3]