Tag Archives: Bank of England

The Bank of England (BoE) has confirmed that interest rates will be cut to 4.5% today, the lowest level since June 2023. The announcement was welcomed by dealers. Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA), representing car and commercial retailers across the UK said: “The Bank of England has reduced interest rates further to 4.5%, following cuts ...

The Bank of England (BoE) has confirmed that interest rates will be cut to 4.5% today, the lowest level since June 2023. The announcement was welcomed by dealers. Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), representing car and commercial retailers across the UK commented: “The Bank of England has reduced interest rates further to 4.5%, following ...

The Bank of England today confirmed another widely anticipated rise in interest rates. Rates will rise by 0.5%, from 4.5% to 5%, the thirteenth consecutive rise since December 2021. Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA) said the hike added more pressure on consumers but were “vital” to curb inflation. “The soaring inflation rates we are ...

The Bank of England today raised UK interest rates to 3% from 2.25%, the biggest increase since 1989. It warned that further increased might be needed in order to return inflation to its 2% target. The bank expects inflation, which hit 10.1% in September, to peak at 11% in the final quarter of 2022. The National Franchised Dealers Association said ...

The Bank of England has raised interest rates from 1.25% to 1.75%, the biggest increase in 27 years. It said the UK will enter recession in the final quarter of 2022. It said inflation was expected to rise from 9.4% in June to just over 13% in 2022 Q4, and to remain at “very elevated levels” throughout much of 2023. ...

The consumer credit market is set to face major change following the Bank of England’s recent signal of a rise in base rates with MotoNovo Finance warning of the impact of higher interest rates and tighter credit control on the car retailing sector. Karl Werner, divisional CEO of motor at MotoNovo Finance said the Bank of England’s recent Financial Policy ...

Analysts from cap hpi have briefed staff from the Bank of England on the current condition of the UK new and used car markets. The briefing set out the record performance of new and used sales in recent years and discussed the relative stability of the market. It followed the Bank’s recently reported interest in consumer credit, including the car ...

On this weekend’s Motor Trade Radio podcast cap hpi retail specialist Philip Nothard discusses the latest news headlines from Motor Trader. The most viewed story was the government’s announcement that it was to ban the sale of new petrol and diesel engine cars and vans from 2040, a move attacked by the SMMT for “undermining” one of the UK’s biggest ...

The Bank of England has slashed interest rates to their lowest level in 53 years as it bids to revive the UK's flagging economy.