The Latest Breaking News from Bank of England

Rate rises are the biggest threat to the economy, Marks & Spencer chairman Archie Norman warns

A series of government U-turns has changed how it plans to tackle the cost of living crisis

Embattled UK Prime Minister Liz Truss on Monday apologized for going "too far too fast" with reforms that triggered economic turmoil, but vowed to remain leader despite a series of humiliating climbdowns. "I do want to accept responsibility and say sorry for the mistakes that have been made... we went…

London (AFP) - Embattled UK Prime Minister Liz Truss on Monday apologised for going "too far too fast" with reforms that triggered economic turmoil, but vowed to remain leader despite a series of humiliating climbdowns.

The ASX has jumped and US stocks rallied overnight after the UK Government ditched major parts of its economic plan that caused turmoil in financial markets, and the Bank of America posted stronger earnings. The Reserve Bank says it will keep raising interest rates.

Four advisers, including George Osborne’s ex-chief of staff, named, with chancellor seeking to repair damage from mini-budget

The UK’s latest chancellor said the council would offer him advice that was independent from the Treasury and the Bank of England.

First minister says if Scotland won yes vote it would aspire to setting up its own currency and joining EU

New chancellor made no mention of policy in economic update but Treasury sources confirm he will go ahead with controversial move

New U.K. Treasury chief Jeremy Hunt has reversed most of an economic package announced by the government just weeks ago, including a planned cut in income taxes

The new Chancellor Jeremy Hunt this morning announced he will scrap major policies planned by his predecessor Kwasi Kwarteng, in an attempt to calm rattled markets