The chances of a July hike in British interest rates increased today after it emerged borrowers came within a whisker of a back-to-back rise earlier this month.

The Bank of England’s decision to spare businesses a further rise in interest rates proved to be a crumb of comfort for manufacturers this week.

British households are braced for a further squeeze on finances this year as wage settlements look set to disappoint despite the rising cost of living.

Soaring energy bills lifted inflation to a seven-month high last month and above the Bank of England's target of 2%, official figures showed today.

Homeowners in the UK were today braced for an interest rate rise by the end of the year after the Bank of England revealed it would miss a key inflation target if it failed to act within a year.

The impact of soaring energy bills on UK manufacturers was laid bare today in a survey showing another month of job losses and heavy cost cutting.

The Bank of England kept an inflation target of 2% in its sights today - providing a signal that interest rates may remain on hold.