An “age of uncertainty”, especially over the path of inflation, means that rapid interest rate cuts are unlikely to be coming to the UK, top Bank of England officials have said. Huw Pill, chief economist at the Bank of England,

The Bank of England should adopt a more activist approach to setting interest rates in order to deal with the “substantial volatility” affecting geopolitics and financial markets, a rate-setter has said.

The Bank of England should adopt a more activist approach to setting interest rates in order to deal with the “substantial volatility” affecting geopolitics and financial markets, a rate-setter has said. Catherine Mann, an external member of the Bank’s Monetary Policy Committee (MPC), argued that rate-setters should be more willing to vote for more radical [...]

The masters of monetary policy are turning to social media to reach young constituents.

The Bank of England's digital pound project faces criticism from former economist Neil Record, who labels it a costly "white elephant".

Bank of England policymakers do not have a consensus about how fast the central bank should cut interest rates, even though they all agreed to use the word "gradual", Monetary Policy Committee member Swati Dhingra said on Monday.

The Bank’s spending on designing a digital pound, which includes developing other financial technologies, has increased in recent years to approximately £24m in total. It spent £11m last year, £8m in 2023 and £5m in 2022.

The departure of Reserve Bank governor Adrian Orr is likely to be the curtain raiser to a change to the bank's tight requirements on banks, writes RNZ business editor Gyles Beckford