Employers are cutting jobs and raising prices to offset tax increases, with wages still growing too fast for policymakers’ comfort

Bosses in the private sector expect a "significant fall" in activity over the next three months, according to a survey by the Confederation of British Industry (CBI).

UK Finance called for the central bank to go further by increasing the size threshold to £40bn-£50bn to take account of inflation since the rule was introduced in 2015. It also called for the active account threshold to be scrapped or raised from 40,000-80,000 to 100,000-150,000.

The Bank of England must contend with a slowdown in Britain's economy but also stubborn inflation pressures when it considers whether to cut interest rates in early February as well as its message about the outlook for the rest of the year.

The wave of bank closures has affected every part of the UK, with 1,470 lost or about to close in England alone, plus another 194 in Scotland, 109 in Wales, 48 in Northern Ireland, and one in the Isle of Wight.

The Bank of England will cut interest rates four times this year to support a flat-lining economy, economists polled by Reuters said, but they added that risks to inflation are to the upside, suggesting policymakers may end up doing less.

Alan Taylor, the most recently appointed member of the Bank's monetary policy committee (MPC) said the UK is 'in the last half mile on inflation' and called for a pre-emptive cut

Newest policy-committee member recommends taking out ‘a little insurance’ amid signs of weakening demand in a fragile economy.

The Bank of England’s regulatory arm set out a string of ideas that could meet the government’s call to boost economic growth, including a new “concierge service” for foreign firms entering the UK market and streamlining the process for creating new rules.

Atom Bank's Saver Reward easy accent account provides a reward rate to customers when they don't make any withdrawals, meaning it will benefit those who don't plan on taking out their savings cash that often the most. Currently, the bank offers a 4.85% rate if a withdrawal isn't made within any given month.

Former Bank of Canada and Bank of England governor Mark Carney announces that he is running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, in Edmonton, Alberta, Canada January 16, 2025. REUTERS/Amber Bracken

As the Bank of England scrambles to unwind the disastrous effects of quantitative easing, the hidden costs of this policy are becoming clear, says Damian Pudner Quantitative easing (QE) has long been the Bank of England’s monetary policy nuclear option.