Bank of England votes 8-1 to hold interest rates at 5.25%

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 …

Bank of England votes 6-3 to hold interest rates at 5.25%

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 …

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 …

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 …

Treasury collects £2.6bn in 13 weeks as IHT receipts rise

Fuelled by record June receipts and rising interest rates The government netted £2.6bn from inheritance tax (IHT) between April and July 2023, which was £0.2bn higher than in the same period a year earlier, latest official statistics show. Figures from HM Revenue & Customs (HMRC) showed that receipts in June 2023 were the highest monthly total on record and could …

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 …