ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this year, compared to a large rise last year". On a monthly basis, CPI rose 0.6 percent last month compared with a rise of 1.1 percent in February 2023, the ONS...
BoE widens action on ‘UK financial stability’ fears
The week had already seen action taken by the BoE and UK government aimed at bringing calm to markets. The move is in response to soaring UK bond yields and after the pound tumbled to a record low against the dollar since the government of new Prime Minister Liz Truss...
BoE set for fifth rate hike in row as inflation soars
The Bank of England is expected on Thursday to raise its key interest rate for a fifth straight time to cool runaway inflation that is causing a cost-of-living crisis in Britain. Economists widely forecast that the BoE will use a regular meeting to hike borrowing costs by a quarter-point to...
BoE hikes interest rate to highest level in 13 years
The Bank of England on Thursday raised its main interest rate by a quarter point to one percent to tackle runaway UK inflation that is causing a cost-of-living crisis. It was the fourth straight rate rise by the BoE, which added that British annual inflation would top 10 percent this...
