The Latest Breaking News from Bank of England

Bank of England says change should not be seen as a ‘relaxation of the rules’

Average price of a home was £271,209 last month after the 12th monthly rise in a row, says Nationwide

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.…