The Latest Breaking News from Bank of England

It’s been more than a year since the UK economy was thrown into crisis after then-prime minister Liz Truss suggested making a wealth of unfunded tax cuts in her September 2022 mini-budget. But a recent bond market sell-off has now sent borrowing costs rocketing again, pushing the bond market even…

Rolling coverage of the latest economic and financial news, as US non-farm payroll shows surge in hiring last month

Despite recent house price falls,the average property value remains more than £39,000 above pre-pandemic levels, Halifax said.

UK house prices were down 4.7% , the Halifax House Price Index found

Former Bank of England governor says businesses prioritise countries with clean power and consistent strategies

High street lender recently failed to convince regulators it could be trusted to hold less cash against its mortgage risks

Some experts suggested that the house price downturn may only have a few months left to run, amid wider developments in the economy.

Net approvals for remortgaging fell to the lowest level since 2012, the Bank of England said.

Mortgage borrowers breathed a sign of relief following a recent pause in the Bank of England’s 14-month campaign of base rate hikes.

City Voices: Rather than a huge shift to de-risk by locking in the higher yields on offer this year, LDI schemes have been more focused on getting their houses in order

The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation. Had it done so, it could have reacted more quickly and prevented inflation from rising as high as 11% in autumn 2022.