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The Latest Breaking News from The Bank of England

Budget 2024: Homeowners 'to be hit with high mortgage bills for longer' as Rachel Reeves borrows billions

The Chancellor is also set to announce a string of tax rises in the Budget on October 30

Evening Standard

Water regulator Ofwat could be abolished over sewage scandal as firms push for bill hikes of up to 84%

Thames Water has asked to hike bills by 54%

Evening Standard

Water sector review could include replacing Ofwat amid row over bills and sewage

The UK and Welsh governments announced an independent commission to review the industry and its regulation.

The Independent UK

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UK economy to grow faster than thought in pre-Budget boost for Reeves

Only Spain was given a bigger economic upgrade by the IMF, making the UK the biggest beneficiary for extra growth in the G7 – although the US’s new growth rate of 2.8 per cent is higher

The Independent UK

UK interest rates to fall to 2.75% by next autumn, Goldman Sachs predicts

Economists at investment bank say markets are underestimating likely extent of action by Bank of England

The Guardian - UK

UK interest rates will drop to 2.75 per cent, Goldman Sachs predicts

The drop in rates will be welcome news to mortgage borrowers who have had a tough couple of years, although savers will be hit again

The Independent UK

The £40bn question: How will Rachel Reeves balance the books?

Chancellor boosted by a surprise drop in inflation after the cabinet is warned she may need to find £40bn in taxes and borrowing in her Budget, dwarfing previous estimates of the fiscal ‘black hole’

The Independent UK

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Does the drop in inflation mean things are going to get better?

As the CPI shows a fall in the overall rate at which prices are rising, Sean O’Grady looks at what it might mean for those of us hoping for an improvement in our everyday finances – and for the chancellor, too, as she prepares to announce her first Budget in…

The Independent UK

UK Inflation Falls, Bank Of England Expected To Cut Rates

UK inflation hits 1.7%, lowest in 3 years, prompting potential interest rate cut by Bank of England. Global central banks adjusting rates to combat inflation.

Top News

UK inflation surprise opens up wriggle room for lower rates and less painful budget

Fall means interest rates could be cut faster than previously thought and is welcome news for Rachel Reeves

The Guardian - UK

UK Inflation Hits Three-year Low, Fuelling Rate-cut Hopes

Britain's annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month.

International Business Times

UK inflation falls to lowest level in over 3 years, cementing expectations for another rate cut

Inflation in the U.K. has fallen to its lowest level in more than three years, a drop that has cemented market expectations that the Bank of England will lower interest rates at its next policy meeting

The Independent UK

What are employer national insurance contributions and what would raising them do?

Rachel Reeves has hinted she plans to put up the tax in the budget but some businesses have voiced concerns

The Guardian - UK

Why are mortgage rates rising and when could they fall again?

The Bank of England is still expected to cut its headline lending rate from 5% to 4.75% when its Monetary Policy Committee meets in November

Evening Standard

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The Independent UK

Ex-Bank of England chief Mervyn King urges Rachel Reeves to raise national insurance in Budget

Exclusive: In a dramatic intervention, the former governor of the Bank of England tells the chancellor she must be ruthlessly honest with the public

Evening Standard

NatWest becomes latest major lender to increase its mortgage rates

The Bank of England is still expected to cut its headline lending rate from 5% to 4.75% when its Monetary Policy Committee meets in November.

The Guardian - UK

Labour’s challenge is complicated by the triumph of finance. That’s bad news for UK plc

To get the necessary investment, Labour must bring the financial sector onboard while diluting its often malign influence

The Guardian - UK

‘Very serious’: Bank of England governor warns of Middle East oil shock risk

Exclusive: Andrew Bailey also hints at ‘more aggressive’ path for cutting interest rates if inflation news stays positive

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news in one place.

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Evening Standard

First direct cut headline mortgage rate to 3.79% as price war continues

Home loan prices have been falling steadily since the summer as City swap rates slowly subside in anticipation of further cuts from the Bank of England through the Autumn and winter.

The Guardian - UK

Liz Truss: Tories would have done better in UK election if I had stayed PM

Truss blames Tory MPs, Bank of England and OBR for dire reaction to her mini-budget – and refuses to back any leadership contender

The Independent UK

Housing market ‘is reviving’ amid growth in house prices and mortgage approvals

Figures released on Monday showed a two-year high in annual house price growth and mortgage approvals for house purchase.

Evening Standard

Why are London's house prices rising faster than they have in years?

The average UK house price increased by 3.2 per cent annually in September, Nationwide Building Society reports

The Guardian - UK

UK house prices hit highest annual growth since 2022

Nationwide says yearly rise in house prices increased by 3.2% in September putting the average home at £266,094

The Guardian - UK

News Corp applauds Australia’s REA Group for abandoning attempted takeover of Rightmove – as it happened

Rolling coverage of the latest economic and financial news

Evening Standard

UK house prices see fastest rise in nearly two years

The acceleration follows the first cut in rates from the Bank of England since 2020

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