'Strong argument' interest rates should have been hiked sooner, business secretary says Kwasi Kwarteng tells Sky News that inflation was an issue "identified at the beginning of last year" and that "clearly something has gone wrong".
How will the interest rate hike impact student loans?
Bank of England’s dire new forecast sparks recession fears
Interest rates expected to rise by 0.5% - live
Rate of inflation could reach ‘astronomical’ 15 per cent next year, think tank warns
When is the Bank of England’s interest rate announcement today?
Monetary Policy Committee likely to take further measures to rein in inflation
Bank of England will probably need to raise rates again, says deputy governor
Central bank must tackle inflation pressures that are gaining foothold in UK economy, says Dave Ramsden
Exclusive: Bank of England will probably need to raise rates again, Ramsden says
The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain's economy, BoE Deputy Governor Dave Ramsden said.
If recession hits the UK, a base rate rise is the last thing we need
This week’s decision on interest rates will be fraught, but many think Britain is heading the same way as the US
Bank of England on brink of biggest rate hike since 1995
The Bank of England is expected to raise interest rates by the most since 1995 on Thursday, even as the risks of a recession mount, in an attempt to stop a surge in inflation from becoming embedded in Britain's economy.