Bank of England Profile picture
Aug 4, 2022 5 tweets 4 min read Read on X
The Monetary Policy Committee voted by a majority of 8-1 to increase #BankRate to 1.75%. Find out more in our #MonetaryPolicyReport: b-o-e.uk/MPR-Aug-2022
Inflation is over 9%. We expect it to rise further this year to around 13%, due to higher energy bills. b-o-e.uk/MPR-Aug-2022 #MonetaryPolicyReport #Inflation
We know the cost of living squeeze is difficult for many people. The squeeze on households’ incomes due to the rise in energy prices has led to slower growth in the UK economy. We expect the size of the UK economy to fall over the coming year. b-o-e.uk/MPR-Aug-2022
We’ve put up interest rates to help return inflation to our 2% target. What happens to interest rates in the coming months will depend on what happens in the economy. b-o-e.uk/MPR-Aug-2022 #MonetaryPolicyReport
We expect inflation will be close to our 2% target in around two years. It’s our job to make sure that inflation returns to our 2% target, and that is what we will do. b-o-e.uk/MPR-Aug-2022 #MonetaryPolicyReport #Inflation

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More from @bankofengland

Feb 7, 2023
Today the Bank of England and @hmtreasury have published a Consultation Paper on the digital pound, a UK central bank digital currency. Find out more here: b-o-e.uk/3jBBp7t The digital pound: consultation paper
The digital pound would be subject to rigorous standards of privacy and data protection. It would be privacy-enhancing by design and would allow users to make choices about their data. Find out more here: b-o-e.uk/3jxudtf
The digital pound would be designed for everyday payments by households and businesses. Find out more about the other features here: b-o-e.uk/3Iebnkt
Read 6 tweets
Feb 3, 2022
The Monetary Policy Committee voted by a majority of 5-4 to increase #BankRate to 0.5% and voted unanimously to begin to reduce the amount of quantitative easing. Find out more in our #MonetaryPolicyReport: b-o-e.uk/MPR-Feb-2022
Inflation is above our 2% target. We expect it to rise to around 7% in the spring, but then fall back and be close to our 2% target in around two years’ time. b-o-e.uk/MPR-Feb-2022 #MonetaryPolicyReport #Inflation
The UK economy continues to recover. We expect the UK economy to grow over the next few years. b-o-e.uk/MPR-Feb-2022 #MonetaryPolicyReport
Read 4 tweets
Jun 8, 2021
Today we launch an exercise to find out how climate-related risks could affect large UK banks and insurers.

Our Climate Biennial Exploratory Scenario investigates the effects of taking climate action early, late or not at all. Find out more: b-o-e.uk/3w9p3EU
We’re asking large banks and insurers to use three scenarios to look at how climate-related risks could affect them. 

Two of our scenarios focus on the move to a net-zero emissions economy. The third is concerned with the physical risks created by global warming.
In our climate scenarios, a large rise in fossil fuel prices for UK households and businesses is needed to reduce carbon emissions. We’re asking banks and insurers what this would mean for their businesses.
Read 6 tweets

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