In the News
Biggest Rise in UK Interest Rates for 33 Years!

3rd November 2022
The Bank of England has raised UK policy interest rates by 0.75 percentage points to 3 per cent. This is the single biggest rate increase in more than three decades. The Bank of England chief Andrew Bailey was quoted as saying that it never feels good to raise interest rates - but it is their job.
The Bank is justifying the rise in rates on the grounds that the action is required to control inflation. It expects rates to peak at 4.5% next Autumn.
The Bank of England is forecasting a two-year recession. With real GDP falling until the end of 2024.
We will post some more comment and analysis in the hours ahead.
You might also like

Economic Update - Developments in the UK Economy (Feb 2023)
8th February 2023
What are the key ideas behind Monetarism?
Study Notes

Global recession warning from the World Bank
11th January 2023
Monetary Policy - What is Quantitative Tightening?
Topic Videos

Four Reasons to Expect Falling Inflation during 2023
27th December 2022

UK Economy Update December 2022: Watching for Signs of Recession
1st December 2022