The Bank of England has held the Bank Rate at 4.25% following a 6–3 MPC vote, with three members preferring a 0.25% cut. Twelve-month CPI inflation rose to 3.4% in May, up from 2.6% in March.
Finance
Bank of England cuts interest rates to 4.25%
The Bank of England’s Monetary Policy Committee has reduced interest rates from 4.5% to 4.25%. Twelve month CPI inflation fell from 2.8% in March 2025 to 2.6% in March 2025.
Bank Rate held at 4.5%
The Montetary Policy Committee at the Bank of England voted by a majority of 8 to 1 to maintain the Bank Rate at 4.5%. One member voted to reduce it to 4.25%. The 12 month CPI inflation increased from 2.5% in December to 3% in January.
Halifax House Price Index indicates steady prices in February
Halifax reported that UK house prices dipped slightly by -0.1% in February 2025 to £298,602, with annual growth holding steady at +2.9%. London saw its growth ease to +1.6% (from +2.6% in January), with average prices at £545,183.
Nationwide reports house price growth in February
Nationwide reported UK house prices rose by 0.4% month-on-month in February 2025, with annual growth steady at 3.9%. The average house price reached £270,493. In 2024, first-time buyers saw recovery, and cash purchases performed well despite ongoing affordability challenges.
A £46m transformation for Sloane Street SW1
Sloane Street’s £46m upgrade transforms it into a 1km boulevard with widened pavements and extensive planting, with over 100 new trees. New retail openings include Temperley London, Valentino, and L’Objet, alongside upsized stores from Dior, Brunello Cucinelli, Bottega Veneta, and Saint Laurent.
Bank of England reduces interest rate to 4.5%
The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to reduce the Bank Rate from 4.75% to 4.5%. CPI inflation was 2.5% in the fourth quarter of 2024, and GDP growth since the last meeting was weaker than expected.
Former South Bank ITV studios to be redeveloped
The £500m redevelopment of the former ITV studios on London’s South Bank will feature a 25-storey tower, two mid-rise buildings, 40,000 sq ft of affordable workspace, cultural venues, two public squares, and a rooftop restaurant. Mitsubishi Estate and CO-RE are leading the project, with Multiplex appointed as main contractor. Completion is due in 2029.
V&A East Storehouse opens 31st May 2025
The V&A’s new working store and free visitor attraction will open as part of East Bank, the new cultural quarter in the Queen Elizabeth Olympic Park, Stratford. Photo © Diller Scofidio + Renfro.
UK house prices rise 4.7% in 2024 according to Nationwide
House prices in the UK rose by 4.7% in December 2024 compared to a year earlier, with northern regions seeing higher prices than the southern regions.
GAILS Bakery and Pret a Manger open in Golders Green
In late 2023, GAIL’s opened in a Grade II listed former bank building in Golders Green, followed by a Pret A Manger on Golders Green Road in late 2024.
Bank of England maintains the Bank Rate at 4.75%
The Bank of England Monetary Policy Committee voted by a majority of 6 -3 to keep the interest rates at 4.75%, with 3 members preferring a reduction to 4.5%. The 12 month CPI inflation figure increased from 1.7% in September to 2.6% in November.
