Notes · Page 3
Editorial notes
from Briefed.
Page 3 of 6 — earlier thinking from the editorial team on markets, the intelligence layer, and what business journalism is actually for.
May 2026
Are UK mortgage rates going down in 2026?
Slowly. The average two-year fix has fallen from above 6% to the low 4s, lagging base-rate cuts. How much further rates drop, and when, explained.
May 2026
What is the Bank of England base rate?
The Bank of England base rate is currently 4.25 percent, set by the Monetary Policy Committee. It is the rate at which the Bank lends to commercial banks overnight, and it flows through to savings rates, mortgage rates, and the cost of business borrowing across the economy.
May 2026
Bank of England MPC meeting dates 2026
The Monetary Policy Committee meets eight times a year to set the base rate. Here are the scheduled meeting dates for 2026, with decisions announced at noon on the Thursday of each meeting week.
May 2026
Is the UK economy growing?
Technically yes. UK GDP has been positive through 2025 and into 2026. But growth has been thin, real living standards have not recovered to their pre-2021 levels, and the gap between the headline number and the household experience remains wide.
May 2026
What is stagflation?
Stagflation is the combination of stagnant economic growth, high inflation, and rising unemployment occurring at the same time. It is unusual because the conditions that drive inflation typically suppress unemployment, and vice versa.
May 2026
What is quantitative easing?
Quantitative easing is a form of monetary policy in which a central bank creates new money to buy financial assets, typically government bonds, to lower borrowing costs and stimulate economic activity when conventional interest rate cuts are no longer sufficient.
May 2026
What is deflation?
Deflation is a sustained fall in the general price level. Unlike a one-off price drop, deflation means prices across the economy are falling consistently over time. Central banks fear it more than inflation because it is harder to escape and causes severe economic damage once entrenched.
May 2026
UK inflation forecast for 2026: what the predictions say
CPI has fallen from its 11.1% peak towards the 2% target. The consensus sees 2 to 3% through 2026, with services inflation the main upside risk.
May 2026
What is fiscal policy?
Fiscal policy is the use of government spending and taxation to influence economic activity. When the government increases spending or cuts taxes, it stimulates the economy. When it cuts spending or raises taxes, it tightens it. Fiscal policy is distinct from monetary policy, which operates through interest rates.
May 2026
What is monetary policy?
Monetary policy is the use of interest rates, money supply, and other financial tools by a central bank to manage inflation and economic conditions. In the UK, it is set by the Bank of England's Monetary Policy Committee, which meets eight times a year.
May 2026
What is the UK corporation tax rate?
The main rate of UK corporation tax is 25 percent for companies with profits above £250,000. Smaller companies with profits below £50,000 pay 19 percent. A marginal relief system applies for profits between the two thresholds.
May 2026
What is the UK national debt, and who owns it?
Around £2.7 trillion, roughly 98% of GDP. The Bank of England holds about a quarter; the rest sits with pension funds, overseas investors, and savers.