Bank of England warns Burnham of UK economy’s ‘big issue’ Economics The Bank of England has warned Andy Burnham that economic growth remains the “big issue” facing the UK economy as he prepares to take the keys to Number 10. Andrew Bailey, the central bank governor, told policymakers on Tuesday that the UK has had “low growth for the best part of 16 to 17 years”. [...]
House prices rise as mortgage rates ease from Iran war highs Property House prices inched up in June as mortgage rates softened following a sharp spike in response to the Iran war. The average UK property price rose by 0.2 per cent in June to £299,330, compared to a 0.2 per cent fall in May, according to the Lloyds house price index. Inflationary fears and expectation of [...]
Interest rate cut is ‘off the table’, says Bank of England governor Economics Andrew Bailey has said cutting interest rates is “off the table at the moment” in the clearest sign yet borrowing costs are likely to stay elevated for the rest of the year. The Bank of England governor said on a panel at the European Central Bank’s annual conference in Portugal that inflationary pressures following the [...]
Bank of England chief economist ‘not trying to be a troublemaker’ on rates split June 29, 2026 The Bank of England’s chief economist has warned fellow policymakers over the risk of becoming “complacent” towards the cost of living as he defends his recent calls to hike interest rates. Huw Pill, a member of the central bank’s Monetary Policy Committee, has voted twice to increase rates to 4 per cent in the committee’s [...]
As it happened: Stocks sink after Fed and Bank of England opt for hawkish hold; Oil price tumbles June 18, 2026 Welcome back to the City AM liveblog. Interest rates were left unchanged at 3.75 per cent in Bank of England’s monetary policy committee meeting today as rate-setters wait to find out whether the Iran war peace deal holds up. The Bank’s decision followed Thursday’s inflation data, which stayed below undershot expectations after coming at 2.8 [...]
Interest rates next change ‘far more likely down than up’ June 18, 2026 Interest rates are set to be held on Thursday in what some analysts believe could be a split decision as two Bank of England officials could back a 25 basis point hike. The Bank’s Monetary Policy Committee is widely expected to leave interest rates unchanged at 3.75 per cent, though some members could back a [...]
House prices jump as property market ‘treads water in rough conditions’ June 17, 2026 House prices jumped by 0.7 per cent in April, in signs that the property market is “trading water in rough conditions” as the Iran war spikes mortgage rates. The average UK house price rose to £270,000 from March to April, marking 3.8 per cent year-on-year growth, according to new government statistics. But property experts have [...]
Inflation stays below three per cent despite price warning June 17, 2026 Inflation has stayed below three per cent although economists are predicting further price increases later this year. The Office for National Statistics said inflation in the year to May was lower than economists expected with the consumer prices index (CPI) showing a reading of 2.8 per cent. Core inflation, which strips volatile energy and food [...]
As it happened: FTSE 100 see-saws after inflation undershoots; Oil at $80 as Trump threatens ‘dropping bombs’ on Iran June 17, 2026 Welcome back to the City AM liveblog. Fresh inflation data this morning showed a reading of 2.8 per cent leading the consumer price index unchanged from May. This came under the expectations of a poll of City analysts by Bloomberg that forecast inflation would come in at three per cent for May. Core inflation, which [...]
Banks woo the wealthy to ace stable income streams June 17, 2026 As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]