interest rate

The Bank of England may have to resort to the interest rate cut that Governor Mark Carney alluded to in his Inflation Report speech this morning, according to some market watchers.

The yield on a 10-year UK government bond fell to a new record low below 1.4% on Thursday after comments the Bank of England is in 'no rush' to raise interest rates.

Members of the Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep interest rates on hold in January, the committee's latest minutes reveal, knocking expectations of a rise this year.

The average annuity today delivers just over £2,000 less income over retirement compared to one bought in March, when the Chancellor swept away the need for savers to buy the product in his Budget, according to retirement specialist MGM Advantage.

The Bank of England's Monetary Policy Committee remained split 7-2 against raising interest rates this month but took a gloomier view of the country's economic prospects.

Interest rates should remain low to avoid long-term economic stagnation, the chief economist at the Bank of England has said.

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Banks need to prepare for market turmoil once central banks start to raise interest rates and unwind quantitative easing, a leading policymaker has said.

Bank of England governor Mark Carney has hinted interest rates could rise in the spring of next year as the UK economy continues to recover from one of the worst downturns it has ever faced.