Bank of England

Pill has written to the Treasury Select Committee

Report outlines a ‘missed opportunity’ to improve resilience

‘Inflation target applies at all times’

MPC meeting is taking place later this week

BoE’s Sarah Breeden sets out the steps being taken to build resilience within LDI funds

Up 0.38 percentage points to 4.85%

Savers have seen highest rates since December after BoE raised interest rate to 4.5% in May

The lowest rate since August 2022

UK economy avoids recession but still vulnerable to further inflationary pressures

Interest rate rise was in line with Fed and ECB