Bank of England
Coverage examines how monetary policy decisions, inflation forecasts, and economic commentary from the UK’s central bank affect the foodservice and hospitality sector, including implications for interest rates, consumer confidence, borrowing costs, and business investment. Reporting is tailored to help operators, finance leads, and decision-makers understand the macroeconomic environment shaping trading conditions and long-term planning.
-
Dec- 2024 -18 DecemberGovernment
Inflation hits eight-month high of 2.6% in November
Inflation has risen for the second month in a row, rising to 2.6% in November, up from 2.3% the previous month, marking the highest level of inflation in eight months. According to the Office for National Statistics, the main drivers behind the rise were fuel and clothing, where prices rose this…
Read More » -
Nov- 2024 -8 NovemberTrade Associations
UKH welcomes ‘short-term’ fix of interest rates cut
UKHospitality has welcomed the Bank of England’s interest rates cut from 5% to 4.75%, saying it is “positive news in the short-term”, particularly those still struggling with pandemic debt repayments, and consumer confidence. However, the trade body said it believes the benefits of this cut is overshadowed by the looming…
Read More » -
7 NovemberNews
Bank of England cuts interest rates to 4.75%
The Bank of England has cut interest rates for the second time this year, with rates now cut to 4.75%. The bank voted by a majority of 8–1 to reduce Bank Rate by 0.25 percentage points to 4.75%. One member preferred to maintain the previous rate of 5%. It had…
Read More » -
Sep- 2024 -19 SeptemberNews
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
Read More » -
18 SeptemberRestaurants
Restaurants and hotels help keep inflation steady at 2.2% in August
The rate of inflation remained steady at 2.2% in August, unchanged since July, yet is still above the Bank of England’s target of 2%.It follows downward contributions from hotels and restaurants, with costs in the segment falling to 4.4% in the month, down from 4.9% in the year to July,…
Read More » -
Aug- 2024 -29 AugustBusiness
IoH partners with BoE to help businesses combat counterfeit notes
The Institute of Hospitality (IoH) has become a strategic partner of the Bank of England’s Banknote Checking Scheme, a free scheme for companies to protect their business from counterfeit banknotes and stay up-to-date on the latest banknote news. Whilst counterfeiting has substantially reduced since 2019, businesses that accept counterfeits can…
Read More » -
1 AugustNews
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
Read More » -
Jul- 2024 -11 JulyPubs and Bars
JD Wetherspoon offloads 26 pubs as it posts healthy LFL sales
JD Wetherspoon has revealed it has sold or surrendered a total of 26 pubs so far this year and has seen its like-for-like sales in the year-to-date increase by 7.7%. According to the group, which currently has a trading estate of 801 pubs, most of the disposals were smaller and…
Read More » -
Jun- 2024 -20 JuneNews
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first…
Read More » -
May- 2024 -31 MayOpinion
Are we really out of the woods?
For most of us in hospitality: the last nine to 12 months have been very challenging indeed. One well known operator said to me recently that these were the worst trading conditions he had encountered in 40 years. My hospitality career nowhere near stretches that long, but I agree with…
Read More »
