The Latest Breaking News from Bank of England

Last Friday, Liz Truss and her chancellor expected acclaim for their mini-budget. This weekend, she goes into her first Tory conference as leader – battling for survival

IT took Liz Truss’s Government just under a month to see the value of the pound drop to historic lows, the Bank of England being forced to step in…

Market turmoil sparked by mini-budget saw banks scrambling and 1,688 home loans pulled from shelves

The new prime minister began September promising a ‘new era’ for Britain. One economic crisis later, she has delivered

With UK government bonds and sterling both falling hard in recent days, the Bank of England has been forced to step in. Only a few months after it started tightening monetary policy to fight inflation by raising benchmark interest rates and ending its programme to “create” money through quantitative easing…

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

Douglas Ross faced tough questions over the fall-out from the Chancellor's mini-budget

New York (AFP) - The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world. 

Bank of England independence was no one’s first choice. Margaret Thatcher never did it, John Major preferred to devolve power to the German Bundesbank than grant it to Threadneedle Street. Because the power to set interest rates is an awesome one.