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Renting has become cheaper than buying a property after last week’s Bank of England interest rate rise, new research has claimed. The monthly cost of owning an average home with a 10 per cent deposit mortgage is now slightly higher than renting it, despite rental inflation hitting double digits for the first time in at least … Read more
Interest rates are set to rise AGAIN with Bank of England taking base above 1 per cent for the first time since 2009 in bid to tackle rampant inflation Interest rates have bumped up rates four times since December Prices jumped by 9 per cent, the highest rate of inflation since the 1980s if rates … Read more
Single set of traffic cameras in London rakes in £15.2m in three years: New data reveals the most lucrative traffic traps in the capital that have raised local authorities £57m since 2019 Bank Junction includes Bank of England, Royal Exchange and Mansion House It has been restricted to buses and cyclists only from 7am to … Read more
Pay review ‘hypocrisy’ of the Bank of England chief who called for workers’ wage restraint Andrew Bailey was present at meeting where pay review was agreed last year It follows his calls for workers to ‘show restraint’ and not accept big pay rises Bank faced criticism for allowing staff to work from home for four … Read more
By Ed Magnus and Helen Crane For This Is Money The Bank of England has upped the base rate for the fourth time since December as it attempts to keep a lid on soaring inflation. The base rate has risen from 0.75 per cent to 1 per cent, having been previously upped from 0.1 to … Read more
Bank of England discovers it owned 599 slaves in Grenada in the 1770s after claiming it was ‘never directly involved’ in the trade The Bank of England owned 599 slaves when it bought two plantations in 1770s The revelation came to light in research after 2020 Black Lives Matter protests A new exhibition showcases the … Read more
The prospect of double-digit inflation this autumn, as surging energy and wheat prices force up the cost of living, means that the latest quarter-point hike in the Bank of England’s interest rate to 0.75 per cent will not be the last. So with Putin’s war against Ukraine taking an enormous bite out of Britain and … Read more
Rishi Sunak today refused to back the Bank of England’s plea for workers to shun big pay rises despite soaring inflation. The Chancellor said it was ‘not the government’s role’ to get involved in negotiations between companies and employees. The thinly-veiled rebuke to Bank chief Andrew Bailey – who last week urged ‘restraint’ on salary … Read more
Soaring cost of living will not ease until next year, Bank of England boss warns: Andrew Bailey says squeeze on living standards will continue until at least 2023 – as he urges staff not to demand higher wages over fears price rises will become ‘ingrained’ Andrew Bailey said staff asking for higher wages could see … Read more
Don’t ask for big pay rise! Staff should not demand higher wages because it could contribute to soaring cost of living, Bank of England boss warns Andrew Bailey said staff asking for higher wages could see price rises ingrained Campaigners said many Britons had already struggled through lacklustre pay Came as Bank of England hiked … Read more