The Latest Breaking News from ING

The Bank of England is expected to unveil the biggest interest rates in decades

This could be the eighth time in a row that Bank of England hikes interest rates — less than a year ago it was 0.1pc.

If – as expected – the Bank raises interest rates by 0.75 percentage points, it would be the biggest single increase since 1989.

Warnings that cuts and tax hikes could lead to deeper and longer recession

ECB chief Christine Lagarde notes concerns but warns of further hikes to tackle soaring eurozone inflation

Shares are mostly lower in Asia as markets remain shaken over the outcome of a Communist Party congress in China, where key reformers were excluded from the highest ranks of ruling party leadership

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation eurozone climbed to an all-time high of nearly 10 percent in September, five times…

Expect also a harder downturn if market credibility is to be restored, with a 2% contraction in GDP

Since 2017, Australia has seen a 30 per cent drop in available bank branches nationally, with more than 300 closing in the past financial year.

Yield on 30-year UK government bonds plummets as chancellor reverses more of Kwarteng mini-budget

Odds now favor that the U.S. economy slipping into a recession within the next year, with economists expecting the labor market and demand will become casualties in the Federal Reserve’s inflation battle.