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The Latest Breaking News from Andrew Bailey

Reeves says protections remain for ‘working people’ amid wealth tax speculation

Chancellor Rachel Reeves said the manifesto commitment not to increase income tax, national insurance and VAT still stood.

Evening Standard

Tax rises: Freeze on income tax thresholds for millions left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

Evening Standard

Interest rate cuts could be coming, signals Bank of England governor

IN FULL

The Independent UK

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Pound drops after Bank of England says it could further cut interest rates if jobs market slows

‘Slack’ opening up in UK economy as higher taxes squeeze employers, says Andrew Bailey

The Guardian - UK

FTSE 100 Live 14 July: Index outperforms, CityFibre £2.3bn funding boost

AstraZeneca and Glencore shares today kept the FTSE 100 index in positive territory during a session of outperformance versus European peers.

Evening Standard

Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – as it happened

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.

The Guardian - UK

Bank of England could cut base rate if jobs market continues to slow – Bailey

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, the governor said.

Evening Standard

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Bank of England could make cuts to interest rates if jobs market slows down, Bailey says

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, governor says

The Independent UK

Missouri judge again blocks many of the state's anti-abortion laws

A Missouri judge has blocked many of the state's anti-abortion laws

The Independent UK

ECB President Christine Lagarde stablecoins will lead to the 'privatization of money,' undermining central bankers ‘public good’

Stablecoins risk undermining central banks’ ability to conduct monetary policy. They’re also becoming increasingly popular among investors.

Fortune

Business news live: Gilt yields spike on Reeves exit speculation and CEO of AstraZeneca discusses leaving London

Stock markets updates and business news from Wednesday

The Independent UK

Interest rates are still on ‘downward’ path, says Bank of England chief

Governor Andrew Bailey also highlighted weakness in the UK labour market amid increased economic uncertainty.

Evening Standard

Fed chair Jerome Powell blames Trump tariffs for failure to cut US interest rates this year – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Rachel Reeves must rethink how tax and spend decisions are made after welfare U-turn

Binary rules and twice-yearly OBR forecasts have turned chancellor’s moves into grim spectator sport

The Guardian - UK

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The Guardian - UK

Growing signs of slowdown in UK jobs market, says Bank of England governor

Andrew Bailey warns of ‘significant decline in wage growth in year ahead’ as Bank prepares for interest rates decision

Evening Standard

Bank governor flags signs that employment tax hikes are hitting pay and jobs

Andrew Bailey also said pay growth is easing but policymakers still need to ‘squeeze out’ stubborn inflation.

The Guardian - UK

Bank of England governor warns of slowdown in the UK jobs market; review finds failings at ONS – as it happened

Andrew Bailey says slack appearing in labour market, after Keir Starmer tells businesses they have made a ‘huge difference’

The Guardian - UK

Bank governor wades into row over Reeves’ focus on fiscal rule forecasts

Andrew Bailey says OBR projections – which the chancellor uses to calculate headroom – shouldn’t be ‘over-interpreted’

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Evening Standard

Bank chief says world ‘too unpredictable’ when forecasting UK economic outlook

Andrew Bailey said he viewed domestic issues as more important than global ones when it comes to setting interest rates.

Evening Standard

Bank of England boss not ‘convinced’ of need for digital pound

The Bank and the Government are in the process of exploring the launch of a digital pound.

The Guardian - UK

Bank’s rate decision leaves frustrated Reeves praying for an August cut

Lower interest rates will be a lever for growth but the Middle East conflict and rising food prices will have troubled MPC

The Guardian - UK

Reeves will hope weaker wage growth enables more interest rate cuts

Bank of England governor has said he sees pay as crucial in determining pace of rate reductions

The Independent UK

Voices: The ONS scandal that has made your bills higher than they should be

COMMENT : Two mistakes made by Britain’s national number cruncher, the ONS, affect us all, writes James Moore – from our mobile phone bills to how much we pay for mortgages and other loans

The Guardian - UK

UK interest rates more uncertain due to Trump policies, says Bank governor

Andrew Bailey tells MPs pattern of trade deals and lower tariffs ‘blown up’ with serious impacts for global economy

The Independent UK

Speed of UK rate cuts ‘shrouded in uncertainty’ after tariffs, Bank boss says

Andrew Bailey told MPs during a Treasury Committee session that the Bank had ‘genuine concerns’ about escalating trade tensions.

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