Chancellor: BoE ‘absolutely right’ to raise interest rates
Video Credit: ODN - Duration: 00:56s - Published
Chancellor: BoE ‘absolutely right’ to raise interest rates
Chancellor Jeremy Hunt says his spring budget must "support" the Bank of England's interest rate rise in an effort to stem inflation.
Speaking to reporters during a visit to a shopping centre in Woking, he says: "We recognise it is very difficult for families, businesses, up and down the country when business rates go up.
But much harder for them would be if we didn't take decisive steps to bring down inflation.
That's why the Bank of England is absolutely right to do what they've done today.” Report by Patelr.
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Andrew Bailey says he is "very pleased" that the UK and the US have reached a trade deal agreement. But the governor of the Bank of England adds the deal will become much more important "if it becomes the trendsetter" for agreements involving the rest of the world. His comments come after the Bank of England cut interest rates from 4.5% to 4.25%. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Rachel Reeves has welcomed the cut to interest rates announced by the Bank of England. Interest rates have gone from 4.5% to 4.25%. Ms Reeves said: "We have had four interest rate cuts now in ten months. It's so important that this government has returned stability to the economy." Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has cut interest rates from 4.5% to 4.25%. Shadow chancellor Mel Stride reacted to the news, claiming Labour's policies have prevented higher cuts to interest rates. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has revealed a quarter point interest rate cut, taking it to 4.25% amid global economic turmoil caused by the US trade war. Sky News
Mark Carney is set to become Canada’s next Prime Minister after a landmark Liberal victory over the Conservatives. Once an unelected leader appointed after winning the Liberal Party leadership in March 2025, Carney now holds a voter-backed mandate. The former Governor of the Bank of Canada and Bank of England, Carney is renowned for steering economies through crisis—from the 2008 financial meltdown to Brexit. With growing tensions from the U.S., including threats from President Donald Trump over trade and sovereignty, Carney faces challenges aplenty. Watch now for a deep dive into how this economist-turned-politician secured power and what it means for Canada’s future.
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Yvette Cooper has said changes to the immigration system are expected to reduce visas by around 100,000 per year. The Home Secretary told the Commons: “The impact of the changes to skilled worker visas, care worker visas, settlements, students and English language is expected to reduce visas by a further around 100,000 a year, and in addition the new workforce strategy’s immigration skills charge, family and asylum reforms will further bring numbers down on top of that.
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Sir Keir Starmer hosts Prime Minister of Sweden Ulf Kristersson at 10 Downing Street. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Kemi Badenoch has criticised the government’s White Paper on immigration, saying “it’s not good enough”. The Conservative Party leader’s comments come as Sir Keir Starmer sets out plans to significantly reduce net migration and head off the electoral threat posed by Reform UK. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Reform UK leader commends the prime minister on his new plans to reduce migration to the UK, saying he will ''praise him to the heavens!'' if the PM succeeds in stopping the boats. It comes as Sir Keir Starmer sets out plans to significantly reduce net migration and Labour seeks to head off the electoral threat from Reform UK. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Foreign Secretary David Lammy addresses delegates at a meeting of the Weimar+ Group in Westminster where foreign ministers from other European countries have gathered to discuss Ukraine and the future of European security. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has once again pushed up interest rates, in the tenth hike in a row. Seven members of the Bank of England’s Monetary Policy Committee (MPC) voted to increase the base interest..
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