The Bank’s Monetary Policy Committee has held rates for a fifth consecutive time. The Bank of England’s Monetary Policy Committee has voted 8-1 to maintain Bank Rate at 5.25%. One member voted to reduce Bank Rate by 0.25 percentage points, to 5%. Interest rates have now been at 5.25% since August 2023, with many economists predicting that rates will begin …
Inflation came in below economists’ forecasts of 3.5%. UK inflation has fallen to the lowest level seen since September 2021, with the annual rate falling from 4.0% in December and January to 3.4% in February. The ONS data shows that core CPI inflation (stripping out energy, food, alcohol and tobacco) was 4.5%, down from 5.1% in January, while food inflation …
Jeremy Hunt is aiming to invigorate UK public markets with an additional £5,000 ISA allowance. Jeremy Hunt has introduced a new British ISA in his Spring Budget, which will allow an additional £5,000 ISA allowance for investment in ‘promising UK businesses’. The new ISA allowance will sit alongside the £20,000 that can be invested across other ISA wrappers currently available. …
The latest reduction follows a cut from 12% to 10% announced at the Autumn Statement last year. Chancellor Jeremy Hunt has announced a 2 percentage point cut to the the main rate for employee National Insurance from 10% to 8%. The move to take another 2p off the Class 1 rate, expected to cost the government around £10 billion, doubles …
UK headline CPI inflation came in lower than expected for January at an annual 4.0% – against the consensus forecast for 4.2%. That means inflation remained level at 4.0% from December, with prices falling by -0.6% in monthly terms. Core CPI inflation (excluding energy, food, alcohol and tobacco) also held steady month-on-month at 5.1% while CPIH inflation, which includes owner …
The Bank’s Monetary Policy Committee has held rates for a third consecutive time. The Bank of England’s Monetary Policy Committee has voted 6-3 to maintain Bank Rate at 5.25%. Two members voted to increase Bank Rate by 0.25 percentage points, while one member preferred to reduce Bank Rate by 0.25 percentage points, to 5%. Interest rates have now been at …
