The European Central Bank increases interest rates for first time in 11 years
The European Central Bank (ECB) has increased its benchmark interest rate to 0.0%. The rate was previously -0.5%.
As you can imagine, moving out of negative interest rates will be a massive boost to savers across Europe.
The move comes …
UK inflation hits 40-year high
The Consumer Prices Index (CPI) measure of inflation rose to 9.4% in June 2022, according to the Office for National Statistics.
CPI was 9% in April 2022 and 9.1% in May 2022. So, although inflation has hit a …
Bank of England increases interest rates to 1.25%
The Bank of England has increased interest rates from 1% to 1.25%. This is the fifth. consecutive rate rise.
This increase in interest rates is an attempt to control the soaring cost of living.
The Bank of England’s Monetary Policy …
UK inflation rate rises to 9% in April 2022
The Consumer Prices Index (CPI) measure of inflation rose to 9% in April 2022, according to the Office for National Statistics. CPI was 7% in March 2022.
It is almost impossible to remember that CPI was as low …
Bank of England increases interest rates to 1%
The Bank of England has increased interest rates from 0.75% to 1%. This is the fourth consecutive rate rise.
This increase in interest rates is an attempt to control the soaring cost of living.
The Bank of England’s Monetary Policy …