Chancellor Rachel Reeves welcomes the cut, but says she is "under no illusion about the scale of the challenge facing ...

According to Moneyfacts Compare, 80% of the UK’s savings accounts pay interest at above-inflation rates. The MPC’s next rate-setting decision takes place on 9 May 2024.

GBP/USD tapped multi-month lows at the 1.2600 handle last Friday, in a complete reversal of the pair’s multi-year highs set in September of this year. The pair shed 6.25% top-to-bottom from ...

The Bank of England has cut its main interest rate by a quarter of a percentage point after inflation across the U.K. fell ...

Just when Britain seemed to be moving beyond its inflation problem, the new government's spending splurge and the risk of a ...

Interest rates have been cut by 0.25 percentage points but economists think it could be the last reduction for a while ...

The United States, Britain and Sweden all cut interest rates this week, even as Donald Trump's U.S. election win introduced a ...

Find your bookmarks in your Independent Premium section, under my profile This election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on ...

The quarterly figure is good news because inflation is now within the Reserve Bank's 2 to 3 per cent target for the first time in three years. This makes an interest rate cut in 2024 a live option ...

as well as the interest rate they pay on savings accounts. The Bank of England moves rates up and down in order to control UK inflation - which is the increase in the price of something over time.