Bank Rate Steady At 5.25% As Central Banks Push Pause Button

The Bank of England has left borrowing costs untouched for the second time in a row, as monetary policymakers around the world press pause in their fight against inflation. In a widely expected move, the Bank’s Monetary Policy Committee (MPC), voted 6-3 to maintain the Bank Rate at a 15-year high of 5.25%. The three in the minority voted to …

State pension set to rise 8.5% as CPI inflation remains ‘steady’

UK inflation remained steady last month as prices rose 6.7% year-on-year meaning pensioners are likely to get a bumper 8.5% increase in their state pension next year under the triple lock policy. The Office for National Statistics (ONS) said on 18 October that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, …

UK inflation remains steady at 6.7% in September

Core inflation at 6.1% UK inflation has remained steady as prices rose 6.7% year-on-year in September, matching the previous month’s figure, the lowest rate since March 2022. The Office for National Statistics said today (18 September) that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, food, alcohol and tobacco, saw a …

Bank of England holds rates at 5.25% after inflation falls

MPC in split decision after inflation unexpectedly fell in August The Bank of England (BoE) has paused its hiking cycle and opted to keep interest rates at the current level of 5.25% after inflation unexpectedly fell in August. It was a tight split decision by the Bank, with five members of the Monetary Policy Committee voting to maintain the Bank …

Inflation sees surprise fall to 6.7%

The UK’s headline rate of inflation has nudged down, helped by an easing of food and accommodation prices. UK CPI inflation was reported at 6.7% for August, compared to the 6.8% recorded in July and consensus expectations of an uptick to 7.0%. The ONS data shows an even greater drop in the core inflation reading: annual core CPI (excluding food, …

Inflation falls by 1.1% to 6.8%

Core inflation remained unchanged between June and July. CPI inflation rose by 6.8% in the 12 months to July, down from 7.9% in June, the latest ONS figures reveal. On a monthly basis, CPI fell by 0.4% in July, compared with a rise of 0.6% in July 2022. CPIH inflation, which includes owner occupiers’ housing costs, saw an annual rise …