Bank of England enacts largest rate hike in 27 years

Recession predicted as pensions schemes face warning of funding challenges ahead

clock • 2 min read
Bank of England enacts largest rate hike in 27 years

The Bank of England (BoE) has raised interest rates by 0.5 percentage points today (4 August), representing the largest hike since 1995.

The bank's monetary policy committee voted 8-1 to raise rates to 1.75% and has forecast a recession in the UK by the end of this year as gross domestic product (GDP) growth continues to slow. Th...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Gallagher acquires First Actuarial, PPF Purple Book, TPT appoints external advisers for DB superfund

Professional Pensions
clock 05 December 2025 • 1 min read
Salary sacrifice change to 'hit' more than three million workers

Salary sacrifice change to 'hit' more than three million workers

Government releases impact assessment

Jen Frost
clock 05 December 2025 • 2 min read
News Digest: Civil Service Pension Scheme transfer - Capita says it has fixed 'teething problems'

News Digest: Civil Service Pension Scheme transfer - Capita says it has fixed 'teething problems'

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 05 December 2025 • 1 min read
Trustpilot