2:03 · PM questioned on 'bounce back' despite rising prices · BBC ; 1:34 · PM says new inflation figures show his plan is working · BBC
UK interest rates expected to stay at 16-year high 2 hours ago By Michael Race,Business reporter, BBC News Share Getty Images Interest rates are expected to be held at 5.25% for the sixth...
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UK interest rates expected to stay at 16-year high 16 hours ago Getty Images By Michael Race Business reporter, BBC News Interest rates are expected to be held at 5.25% for the sixth time...
Want to know more about interest rates? Learn more about how they work in the UK and what the different types of interest rates are.
Best Funds When Interest Rates Rise
A decision by the Bank of England to cut interest rates later is "on a knife-edge", according to analysts. ; Traders have bet on a 60% chance that the UK's central bank will lower rates from 5.25% to 5%, but others believe another hold is on the cards. ; Borrowing costs are currently at a 16-year high, putting pressure on household finances, although returns on savings are also greater. ; In June, policymakers opened the door for an August rates cut, signalling that a majority of the decision makers could vote for one.
Many other countries have also seen inflation and higher interest rates. At 2.2%, UK inflation is below the rate for countries using the euro, which was 2.5% in June, down from 2.6% in May....
In a surprise move, UK interest rates have been left unchanged after the Bank of England said... the best deal becomes a little more urgent. The theory behind raising rates is that it makes...
Prices in the UK rose 2.2% in the 12 months to July, up from 2% for June. ; For example, if a bottle of milk costs £1 but is £1.05 a year later, then annual milk inflation is 5%. ; This virtual "basket of goods" is regularly updated to reflect shopping trends, with vinyl records and air fryers added in 2024, and hand sanitiser removed. ; The latest figures show that CPI rose by 2.2% in the year to July, largely due to prices of gas and electricity falling by less than they did a year before.