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 …

UK inflation falls to 3.4%

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 …

UK inflation holds steady at 4% in January

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 …

UK inflation falls further than expected in November at 3.9%

‘The Bank of England now certainly faces a less daunting task’ The UK Consumer Prices Index (CPI) has dropped to 3.9% in the year to November 2023, according to data from the Office for National Statistics released today (20 December). The fall defied expectations, as economists had forecast inflation to decrease to 4.4% for the month from 4.6% in October …

UK inflation sharply falls in October to 4.6%

Official figures show inflation down from 6.7% in September UK inflation declined sharply in October, falling to an annualised rate of 4.6% from 6.7% in September, according to data from the Office for National Statistics (ONS). The drop in housing prices was the largest contribution to the fall in inflation, contributing 1.6 percentage points to the 2.1 percentage point decline. …

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 …