Two members favoured a larger half-point cut The BoE’s forecasts suggest a bumpy road ahead, with inflation rising to 3.7 per cent in the summer and falling back to target later than expected.

Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom (UK). Known as ‘The old lady of Threadneedle Street’, the bank’s mission is "to promote the good of the ...

The BoE and economists polled by Reuters had expected inflation to rise by less, to 2.8%, after December's reading of 2.5%. The Office for National Statistics said the increase in January was ...

Private-sector pay excluding bonuses - the BoE's main gauge of domestic inflation pressure - rose by 6.2% compared with the same period a year earlier, the fastest pace in a year, the Office for ...