Why have interest rates stayed the same and when will they go down?
The PA news agency looks at what the latest Bank of England decision means and whether rates could be cut again soon.
The PA news agency looks at what the latest Bank of England decision means and whether rates could be cut again soon.
The Bank of England’s Monetary Policy Committee sounded a cautious tone in its decision to keep the UK base rate the same.
Eight of the nine members on the Bank’s Monetary Policy Committee voted to keep the UK base rate unchanged.
Most economists think that rate-setters on the Monetary Policy Committee will keep the UK interest rate on hold on Thursday.
The average price of both petrol and diesel has swung from positive to negative inflation.
The ONS said inflation remained unchanged at 2.2% last month, after rising for the first time this year in July.
Most economists forecast the latest official data will show inflation remained unchanged at 2.2% in August.
Most economists forecast the latest official data will show inflation remained unchanged at 2.2% in August.
Chinese leaders have ramped up investment in manufacturing to rev up an economy that stalled during the pandemic.
Experts think that the Bank’s rate-setting committee will likely keep UK interest rates at 5% on Thursday.
The state pension rose in line with earnings this year.
The Educational Institute of Scotland union had advised its members to back the 4.27% increase.
Many experts believe the latest jobs market data should keep the Bank of England on track to cut rates again in November.
Wage growth figures released on Tuesday suggest some pensioners will see an annual state pension increase of around £460 next year.
The ONS said total wage growth went up 4% in the three months to July, putting pensioners on track for a rise in their annual pensions to £11,962.60.