Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, the bank said. That will push Britain into recession later this year, bank forecasts show.

With inflation above 10 percent, the central bank ramped up its fight against price increases even as it predicted a “prolonged” recession.

As the Bank of England scrambles to unwind the disastrous effects of quantitative easing, the hidden costs of this policy are becoming clear, says Damian Pudner Quantitative easing (QE) has long ...

Judging by the Bank of England’s gloomy economic forecasts, U.K. interest rates won’t go as high as the market expects. Unfortunately for investors, the central bank also seems set to mostly ...

The Bank of England raised interest rates by three quarters of a percentage point on Thursday, the biggest hike in 33 years, as it tries to contain soaring inflation even as the UK economy slides ...

Fears that the British economy is heading for recession have mounted sharply after the Bank of England raised borrowing costs by more than anticipated.

The central bank forecasts that the war in Ukraine will fuel further inflation and tip the U.K. economy into a prolonged recession.

The bank said Thursday that inflation will accelerate to over 13% in the fourth quarter and remain “very elevated,” for much of 2023.

London — The Bank of England projected Thursday that the United Kingdom’s economy would enter a recession at the end of the year and hiked interest rates by the largest amount in more than 27 ...

The Bank of England says the United Kingdom's economy is projected to enter a recession in the final three months of the year.