UK Finance

Stories

Bank of England raises rates to 4% as energy prices push inflation up

Estimated mortgage impact of the hike

The Bank of England raised its benchmark interest rate to 4% on 5 November, the first increase since August 2023. Eight of the nine Monetary Policy Committee members backed the quarter-point move; Catherine Mann wanted a half-point.

Updated 2 days ago

UK banks complete first interbank transactions using tokenised deposits

New Capabilities

As of September 2026: Convened the GBTD project

Seven of Britain's biggest banks moved money between themselves using tokenised deposits for the first time on September 24. The transactions—two remortgage completions and a simulated online marketplace purchase—ran on a shared blockchain platform built by Quant for UK Finance's Great British Tokenised Deposit project.

Updated Sep 24