The Bank of England has reduced interest rates to 4.5%, the lowest in over 18 months, and cut its growth forecast for the UK economy to 0.75% in 2025. Governor Andrew Bailey warns of a 'bumpy road ahead' due to economic uncertainty, while the rate cut offers relief to borrowers but may impact savers negatively.
The Bank of England has reduced interest rates to 4.5%, the lowest since June 2023, aiming to stimulate economic growth amidst a challenging outlook. This decision, part of a series of cuts, reflects concerns over sluggish growth and inflationary pressures, with further reductions anticipated.
The UK government is grappling with the sustainability of the state pension system, facing calls for earlier increases in the pension age and debates over the triple lock mechanism. With demographic shifts and rising costs, the system is under significant strain, prompting discussions on reforms and targeted support for lower-income individuals.
A single UK ticket-holder has won the £83 million EuroMillions jackpot in Friday night’s draw, marking the first UK jackpot win of 2025. The winning numbers were 02, 11, 19, 30, and 49, with the Lucky Star numbers 03 and 08.
NatWest is set to close 53 branches across the UK by mid-2025, citing a significant shift towards digital banking and a decline in in-person transactions. The closures have raised concerns about financial exclusion, especially for older and vulnerable customers.
A single UK ticket-holder has won the £83 million EuroMillions jackpot in Friday’s draw, marking the first UK jackpot win of 2025. The winning numbers were 02, 11, 19, 30, and 49, with the Lucky Stars being 03 and 08.
NatWest is set to close 53 branches across the UK in 2025, reflecting a shift towards digital banking. The closures will affect various locations, with the bank investing in digital solutions and shared banking hubs to support customers.
A UK player has won a life-changing €99.4 million in the EuroMillions draw on 24 January 2025, with the winning ticket purchased in the UK. The draw also included the Thunderball results, with a top prize of £500,000.
NatWest is set to close 53 branches across the UK between April and June 2025, continuing its adaptation to the increasing preference for digital banking. This move is part of a broader trend in the banking sector, with over 6,000 branches closed since 2015. The bank is investing in digital infrastructure and exploring alternative solutions to ensure customer access to essential services.
HMRC announces plans to address a tax issue that has led to hundreds of thousands of pensioners being overcharged on their retirement savings, with changes set to take effect from April 2025.