The Bank of England (BoE) announced for the first time today (August 3) that interest rates will stay higher for longer, in an effort, it says to battle soaring price rises.
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Cost of living crisis continues
Unite has slammed the Bank of England (BoE) for hiking up interest rates yet again on Thursday (June 22) after new figures showed inflation continued at a much higher than expected rate of 8.7 per cent. The BoE raised interest rates by half a percentage point to 5 per cent, the highest in fifteen years, […]
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Profits ‘bonanza’ for big banks
New research by Unite has revealed that the UK banking sector is making bonanza profits on the back of Bank of England interest rates increases. In the first nine months of 2022, the big four UK banks (Barclays, HSBC, Lloyds and NatWest) recorded profits of £19.8 billion. Since the end of 2021, big banks’ bank […]
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Interest rate rise ‘will add to pain’ felt by ordinary families
Unite today (May 5) warned that yet another interest rate rise – the fourth consecutive rise in a row since December – will add to the financial pressure facing millions of ordinary families amid an…Read more…
Bank of England hikes interest rates amid soaring inflation
The Bank of England has today (March 17) raised interest rates for the third time in a row, from 0.5 per cent to 0.75 per cent – a move that Unite has warned will further squeeze household finances…Read more…
‘Inflation has not been caused by working people’
Unite has condemned comments by Bank of England governor Andrew Bailey, who has said workers should not ask for pay rises to avoid a so-called ‘wage-price spiral’ – a theoretical scenario dismissed…Read more…
Carney-age at the Bank
As the Bank of England dumped a data reservoir of cold water over Osborne’s claims of a ‘motoring’ economy and economic miracle, the Governor is spinning in no man’s land between the two views….Read more…