The Latest Breaking News from Bank of England

Nationwide Building Society said it expects the market to slow in the months ahead.

People have just a few weeks to spend or deposit their old bank notes before they are withdrawn as legal tender

Analysis: Bank ruling that borrowers no longer have to show they can afford steep repayment hikes raises questions over how to curb excessive borrowing

Rates expected to rise again, by 0.25% or 0.5%, increasing costs for millions of borrowers

The public are being encouraged to exchange any old notes that will expire this year

People are being encouraged to either spend or deposit their paper notes before the expiration date

Test required potential homebuyers to prove they could afford three-percentage-point rise in interest rates

Market wrap: The RBA is widely expected to lift the cash rate by 50 basis points to 1.85 per cent as part of its commitment to slow inflation.

The major shake-up sees affordability tests scrapped

Some people may find it easier to get a mortgage from Monday

Imagine, for just a moment, you’re an economic policymaker tasked with managing the path of an economy. Now envisage a set of economic conditions that makes your task near-enough impossible. That, unfortunately, is where many real-life policymakers find themselves today. There’s too little growth but there’s also too much inflation.…