Declining reserve and cash balances have restricted the use of internal borrowing and left authorities open to greater financing risks, experts have said.
Interest rates are set to stay higher for longer, the Bank of England has said as it announced another hike in its base rate – this time from 5% to 5.25%.
Rising service demand combined with high inflation and rising interest rates has made delivering a balanced budget “very difficult to achieve” without further government support, a councillor at...
Financial woes at the London Borough of Croydon could worsen if it cannot write off more than half of billion pounds of maturing loans, as high interest rates look set to add millions to its costs.
Persistent inflation has led to the Bank of England raising its bank rate for the twelfth time in a row, but commentators have warned that the economy could suffer as a result.
The Bank of England’s decision to raise interest rates at an eleventh consecutive Monetary Policy Committee meeting shows it is less focused on financial stability risks than fighting inflation at...
Inflation being predicted to fall sharply this year was not enough to keep the Bank of England from raising interest rates for the tenth consecutive meeting of its Monetary Policy Committee.
The Bank of England has put its bank rate up to 3.5% – the highest it has been since 2008 – in a bid to reduce inflation, which has already begun to fall.
The largest interest rate hike from the Bank of England in 33 years has prompted warnings of financial misery for households, particularly the poorest, and the bank itself has predicted the UK will...
The Bank of England has insisted it will put interest rates up “by as much as needed” to get inflation under control, in response to market reaction to the government’s announcements last week.
UK interest rates will rise for the seventh time in quick succession as the Bank of England tries to bring inflation down, although the bank’s Monetary Policy Committee said recent government...
The Bank of England has pushed interest rates up by their biggest jump in 27 years, predicting further rampant inflation and a coming economic recession, and analysts think there are...
Local authority borrowing from the Public Works Loan Board remains low following four Bank of England interest rates hikes, after councils capitalised on record low finance last year,...
The Bank of England's Monetary Policy Committee has hinted that further interest rate rises are on the horizon, after it hiked borrowing rates for the fourth consecutive meeting.
High inflation is set to push the cost of servicing government debt to twice the Office for Budget Responsibility’s forecast in October, the fiscal watchdog said in its outlook accompanying the...
We are living through uncertain economic times. This week, a group of chief investment officers gathered to discuss some of the main global issues which are likely to impact their decisions in coming...
The Bank of England is set for only modest interest rate tightening in the coming months to deal with high inflation fuelled by supply chain backlogs, according to a senior official.
Local authorities in the UK borrowed just £130m from the Public Works Loan Board in January, as the cost of borrowing leapt following December's Bank of England interest rate rise.
