Governor Andrew Bailey said he felt helpless as he defended the Bank’s monetary policy despite soaring inflation.

Bank of England chief warns over ‘apocalyptic’ food price rises

The Bank believes a squeeze on living standards, driven by soaring energy prices, is set to intensify and push the UK economy into recession later this year.

Bank of England forecasts a recession in the UK as inflation tops 10%

The Monetary Policy Committee voted 8 - 1 to increase Bank Rate in March, for the third time in four months, to 0.75%.

Bank hikes interest rates again as war in Ukraine forces inflation higher

As the balance of power has swung in favour of employees, the chancellor would face a backlash from unions if he introduces pay restraint, writes Joel Hills. 

Real pay is falling but further interest rate rises look more likely

Shoppers wearing face masks walk through Birmingham city centre. It has been announced that in England no further coronavirus restrictions will be introduced before the new year. Picture date: Tuesday December 28, 2021.  Jacob King/PA


Interest rates are rising for the second time in three months. Business Editor Joel Hills explains what this means for homeowners and our living standards.

UK experiencing the worst hit to household spending power for 30 years

The Bank of England moved to put up interest rates because it is worried about the pace at which prices are rising.

Bank of England moves to contain inflation with interest rate rise

The bank's monetary policy committee (MPC) of nine members voted eight to one in favour of increasing the interest rates for the first time in three years. 

Bank of England raises interest rates to 0.25% from 0.1%

Prices are rising faster than pay and - barring an Omicron-shaped curve-ball - they will accelerate further in the months to come, Joel Hills writes.

Inflation: Running hot and causing hardship 

The Bank of England has decided to keep Bank Rate on hold at 0.1% but it is stating very clearly that interest rate rises are imminent.

Bank of England says interest rates rises 'necessary over coming months' 

GDP went up up 4.8% from April to June this year, as the country emerged from Covid-19 restrictions.

Sunak: Economy 'on the mend' and Covid support for millions to end as planned

The Bank of England thinks inflation could peak at 4% this year - three months ago it was forecasted to reach 2.5%.

Bank says unemployment has peaked but warns of a squeeze on living standards

The economy is hotting up, which is cause for celebration. The worry is it may be over-heating.

Inflation likely to rise above 3% as recovery continues, Bank of England says 

The Bank of England expected inflation to pick up as the economy reopened but the headline rate in May was slightly above what most economists were expecting.

Prices in the UK have risen above target - is this something to worry about?

Inflation hit 2.1% for May, ahead of the Bank of England’s 2% target, and it represented an increase on the 1.5% reported by the ONS for April.

Inflation soars past Bank of England target as clothes and fuel push up prices 

The Chancellor will be tasked with trying to revive Britain's economy at the Budget.

The Bank of England has hiked its forecast for UK economic growth this year as Britain’s vaccine-fuelled recovery picks up pace.

Bank Of England

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