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.
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Sep- 2023 -21 SeptemberNews
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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Aug- 2023 -3 AugustNews
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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Jun- 2023 -22 JuneBusiness
BoE raises interest rate to 15-year high
The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…
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22 JunePubs and Bars
High inflation impacting night time economy says NTIA
The Night Time Industries Association has said that high inflation is still impacting the night time economy and consumer spending. The trade association believes that despite the warm weather and three bank holidays last month operating costs and consumers tightening their belts have affected the sector. This comes after it…
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May- 2023 -11 MayNews
BoE raises interest rate for 12th time to 4.5%
The Bank of England (BoE) has raised interest rates for the 12th consecutive time to 4.5%, up from 4.25%. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by 0.25% in a bid to meet the 2% inflation target. The committee said it…
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Mar- 2023 -27 MarchPubs and Bars
JD Wetherspoons returns to profit but warns of inflation impact
Pub chain JD Wetherspoons has returned to profit in H1, with profit before tax reaching £4.6m for the 26 weeks ended 29 January after a £26.1m loss the prior year. Nonetheless, this was still below the £50.3m profit reported for the same period in 2019. However, the group’s like-for-like sales…
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23 MarchNews
BoE raises interest rates to 4.25%
The Bank of England (BoE) has announced that interest rates will be raised by 0.25% to 4.25%, the highest rate in almost 15 years, following an unexpected rise in inflation last month. The move marks the 11th consecutive increase from the BoE and follows the jump in inflation to 10.4%…
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Feb- 2023 -2 FebruaryNews
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 4%, the highest level in 14 years. The increase, which is the tenth consecutive increase, was decided after the bank’s Monetary Policy Committee (MPC) voted by a majority…
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Dec- 2022 -15 DecemberNews
Bank of England raises interest rates by 0.5% to 3.5%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years. At a meeting held on 14 December 2022, the Bank’s MPC voted by a majority of 6-3 to increase rates by…
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Nov- 2022 -7 NovemberPubs and Bars
Scottish hospitality joins forces to launch new ‘Help Out Hospitality’ campaign
A group of Scottish hospitality businesses have backed a new ‘Help Out Hospitality’ campaign aimed at supporting battling for survival due to rapidly escalating costs. Edinburgh’s Brewhemia; McKays Hotel in Perthshire; Links House at Royal Dornoch in Sutherland; Ingliston Country Club and Hotel in Renfrewshire; Tyneside Tavern and Mazzoli Italian…
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