2024-06-03 13:00:31 · Bank of England This statistical release contains average interest rates across deposit or loan accounts with UK banks and building societies, calculated using data on rates and balances. Key points Commentary on this data is now incorporated into the Money and Credit ...
With estimates of three or four more base rate cuts this year, deals being offered on the high street are getting lower and lower. The average interest rate on a two-year fix was 5.06% in 2023, but it's since fallen to 4.33%, according to Bank of England figures....
"This is quite a hawkish set of communications from the Bank of England," Matthew Ryan, head of market strategy at global financial services firm Ebury, said. "The statement seems to indicate that UK rates will perhaps come down slightly more gradually than had been previously believed." MPC ...
Bank of England cuts base rate to 4.25% ByEd Conway, economics and data editor The Bank of England has cut interest rates from 4.5% to 4.25%, citing Donald Trump's trade war as one of the key reasons for the reduction in borrowing costs. In a decision taken shortly bef...
Bank of England Governor Andrew Bailey addresses the media during the central bank's Monetary Policy Report press conference at the Bank of England, in London, Thursday, Feb. 1, 2024. The Bank of England has kept its main interest rate at a near 16-year h...
LONDON — The Bank of England on Thursday delivered its first interest rate cut in more than four years, taking the key rate to 5%. Policymakers ultimately voted 5-4 in favor of the reduction, with Governor Andrew Bailey saying that the committee would move ahead cautiously. The Bank rate ...
LONDON (AP) — The Bank of England is reminding British banks to prepare for the possibility that the U.K. and the European Union will fail to agree on a trade deal by the end of the year, amid few signs of progress in discussions between the two sides.
April to 39%. Firms’ optimism in their own trading prospects dropped seven points to 50%, while their confidence in the wider economy fell 13 points to 28%. The North East of England was the most confident UK nation or region in April (59%), followed by the West Midlands (53%) and...
Today’s announcement from the Bank of England that UK base rates are to increase by 0.25% from the previous rate of 4.25% to a new rate of 4.5%, must hardly come as a surprise. Most economists and analysts have been predicting that the Bank would hike again...
Quick recap: when did the base rate peak? The base rate peaked at 5.25% – a 16-year high – in August 2023. It was held at this level for almost a year. The Bank of England finally began cutting rates in August 2024 after inflation showed significant signs of coming under control. ...