The Bank of England and European Central Bank both held their benchmark rates steady. Even though inflation has been slowing, they gave no indication of when rates would start to come down.
Tag: Bank of England
Bank of England Keeps Interest Rates Steady for First Time in Nearly Two Years
After 14 consecutive interest rate increases, the central bank’s long fight against persistent inflation in Britain is entering a new phase.
U.K. Inflation Rate Slows to 7.9 Percent
The larger-than-expected slowdown, led by motor vehicle fuel prices, offers some relief to the government and the Bank of England.
Rishi Sunak Is Still Haunted by Boris Johnson and Liz Truss
Boris Johnson’s misadventures still make headlines, but Prime Minister Rishi Sunak’s bigger problem is high inflation and soaring bond yields reminiscent of those that toppled Liz Truss.
Bank of England Raises Interest Rates to 4.5%, Highest Level in 15 Years
The central bank lifted its benchmark rate a quarter point, to 4.5 percent, as part of its aggressive policy to tame inflation, but forecast that Britain was likely to avoid a recession.
U.K. Inflation Swings Upward, to 10.4 Percent
Prices in Britain reversed a recent downward trend, rising 10.4 percent over the year through February.
King Charles III Is the New Face of U.K. Money
Pound notes with the new sovereign’s image will begin appearing in 2024, though money with his mother’s likeness will still be in circulation.
Rishi Sunak Will Face Difficult Economic Tests Immediately
As prime minister, Mr. Sunak will face a vastly different economic backdrop to the one he experienced as finance minister.
Rishi Sunak will face difficult economic tests immediately.
As prime minister, Mr. Sunak will face a vastly different economic backdrop to the one he experienced as finance minister.
Truss Defied the Markets, and They Ruthlessly Sealed Her Fate
World leaders buffeted by economic challenges are watching the turmoil in Britain with anything but relish, hoping that Liz Truss’s woes won’t be a harbinger for other countries.