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The Latest Breaking News from The Bank of England

Bank of England will start cutting interest rates in June, City traders bet, as UK returns to growth

Cutting too early would risk restoking inflation, while too late could undermine the UK’s revival from recession

Evening Standard

UK Wage Growth Slowest, Offers Relief To Bank Of England

Recent data shows UK wage growth at its lowest since 2022, impacting inflation and economic health.

Top News

US inflation unexpectedly rises to 3.2% in February; UK unemployment climbs – as it happened

Stubborn US price growth suggests Federal Reserve won’t be in a rush to cut interest rates; UK wage growth slows more than expected while vacancies decline

The Guardian - UK

'Are we missing something?' - Shock as Halifax becomes fourth lender to up mortgage rates today

“Are we missing something here?” one adviser asked of the flurry of mortgage rate rises

Evening Standard

Data this week unlikely to convince Bank of England to cut interest rates soon

Good news on growth could be bad news for those hoping to see interest rate cuts

Evening Standard

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Pound Sterling Surges Against US Dollar: Can the Rally Continue?

The bulls have woken the sleeping GBP/USD. Since mid-December 2023, the GBP/USD weekly chart has seen sideways trading activity. The past five trading days have seen a 1.55% increase in value, adding to a year-to-date .94% increase. The question becomes, will the rally continue? As the UK's fiscal first quarter…

Barchart

UK Budget: Hunt sticks to what was expected, and markets are grateful for that

City Voices: The pressure is on the Bank of England to get it right

Evening Standard

London house prices see first positive growth in over a year, says Halifax

The figures suggest a relatively stable start to 2024 but there could possibly still be a slowdown in the housing market this year, Halifax said.

Evening Standard

Dozens of ‘major’ compliance breaches at Bank of England, NAO reports

National Audit Office reviews Bank’s actions to reduce non-financial risks since scandals but acknowledges ‘good progress’

The Guardian - UK

UK regional growth gap to widen as London pulls further ahead

Despite levelling up efforts, EY data found the capital and south-east of England would benefit most from a return to growth

The Guardian - UK

Fourteen years of Tory economics – ‘major mistakes’ and ‘crisis after crisis’

As the chancellor prepares next week’s budget, Labour says it is staring at a dire inheritance. The voters look likely to agree

The Guardian - UK

Clare Lombardelli named deputy governor of Bank of England

Ex-Treasury official and adviser to David Cameron will replace Ben Broadbent, making MPC majority female for first time

The Guardian - UK

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International Business Times

Museum Visitors To Get First Sight Of King Charles Banknotes

People in the UK can get their first glimpse on Wednesday of banknotes bearing King Charles III's image.

The Guardian - UK

Forty years on from the miners’ strike, unions are flexing their muscles

While numbers may not have fully recovered the climate is now in very much in trade unions’ favour

Evening Standard

Mortgage rate rises branded 'March madness' by brokers as banks hike home loan costs

HSBC among the lenders lifting the cost of home loans the day after it reported record annual profit

The Guardian - UK

First UK banknotes featuring Charles III to be released on 5 June

Bank of England says any machine that handles UK banknotes must be updated to accept the new designs

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news in one place.

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The Guardian - UK

EU opens formal investigation into TikTok; Bank of England ‘could worsen recession’ without interest rate cuts soon – as it happened

The European Union to investigate if TikTok breached online content rules aimed at protecting children, as Andy Haldane urges central bank to consider interest-rate cuts

The Guardian - UK

‘I’m still proud of what we created’: Metro Bank’s 14-year rollercoaster ride

From its lavish launch parties to a 2019 accounting scandal, the UK challenger bank has been beset by controversy

The Guardian - UK

Jeremy Hunt ‘considering spending cuts’ to fund pre-election tax giveaway

Treasury looking at reducing projected rise in public spending from 2025, FT reports citing insiders

International Business Times

Sticky UK Inflation Stokes Bank Of England Rate-cut Debate

British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.

Evening Standard

Surprise fall in food prices raises hopes for interest rate cut

City markets are now pricing in a 55% likelihood the Bank of England will start cutting rates as soon as June.

The Guardian - UK

UK pay growth slows less than expected as workers bid up wages

December figures prompt predictions Bank of England may cut interest rates later than previously expected

The Guardian - UK

The Body Shop UK falls into administration; UK wage growth and US inflation hit rate cut hopes – as it happened

The Body Shop has collapsed into administration in the UK, less than three months after it was taken over by a private equity company

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