Andrew Bailey, the governor of the Bank of England, has suggested that interest rates might have reached their highest point, following 10 consecutive hikes in the official borrowing cost since
To cover losses from the Covid loan scheme, UK banks spent £4.4bn of taxpayers’ cash
To cover fraud and default on the £77bn state-guaranteed loans given to struggling companies during the coronavirus lockdowns, more than £4.4bn worth of taxpayers’ money was paid to British banks.
First five-year mortgage deal mortgage below 4pc since mini-Budget
The first 5-year, below-4pc mortgage deal has been launched since the mini-Budget. This is to end the price war between lenders.
The three stocks to sell as interest rates rise
The Bank of England raised interest rates by 0.5% to 4pc. This is the highest rate since the financial crisis.
UK workforce to shrink permanently in wake of pandemic, Bank of England
The Bank of England warned that Britain’s workforce would be permanently smaller following the pandemic. This will lead to stagnation.
The Bank of England raises interest rate for 10th time in a row
A majority of 7-2 votes in favour of increasing the Bank Rate by 0.5% to 4% by the Monetary Policy Committee.
Bank of England poised to raise interest rates for 10th time in a row on Thursday
The Bank of England will raise interest rates for the tenth time in succession at its policymakers’ meeting this week to further squeeze the finances of businesses and mortgage holders.
The Bank of England is expected to raise interest rates to 15-year highs this week
European stock markets are likely to open lower as investors prepare for central bank decisions in the UK and US later this week.
This year, monthly mortgage payments could drop by 25pc
Borrowers could pay £4,500 less annually in November 2023 than in November 2022
Bank of England makes £3.8bn profit after the mini-Budget collapse
Threadneedle Street received a return of approximately 20pc from the buyers who paid £23bn to buy the bonds.
Bank of England raises interest rates to a fresh 14-year high to 3.5pc
The Bank of England announced its ninth consecutive increase in interest rates. This brings them to their highest level since before the global financial crisis.