Bank of England raises interest rates to 0.25%

While it is important to note that a 0.15% rise is modest and still leaves base rates very close to historic lows, it is not ideal that this comes at the precise moment where some forms of consumer confidence, especially in terms of going out, appear to be slumping. The Bank’s Monetary Policy Committee was briefed by the Chief Medical Officer, Chris Whitty, and intriguingly chose to mention the possibility that Omicron could raise inflationary pressure by further hobbling supply chains for goods, and the supply of workers.

Recent Posts

Missguided fashion chain on the verge of collapse

A Missguided spokesperson said: "Missguided is aware of the action being taken by certain creditors of the company in recent days and is working urgently to address this. A process to identify a buyer with the required resources and platform for the business commenced...

read more

Business confidence is falling, says Natwest boss

Three years after she took over the top role from Ross McEwan, and renamed Royal Bank of Scotland, or RBS, with the Natwest brand, Ms Rose said that the impact of inflation, higher interest rates and the invasion of Ukraine has caused a "concern" for business about...

read more