The Latest Breaking News from Bank of England

As millions face hardship thanks to soaring bills, the Tories are focused on their next leader rather than the emergency at hand

Liz Truss, the front-runner to become Britain's next prime minister, plans to rush through tax cuts earlier than planned in an attempt to boost the country's flagging economy, the Sunday Telegraph reported.

Conservative leadership frontrunner insists on tax cuts despite claims they will fuel inflation

LIZ Truss has claimed that “handouts” are not the best way to help households as the cost-of-living crisis continues to squeeze households…

Tory leadership contender’s tax cut plan will not help the hungry, warns business leader

Consumer rights expert Martyn James explains everything you need to do if you can't afford your bills after the Bank of England raised interest rates from 1.25% to 1.75%

Rishi Sunak warned that unless inflation gets under control, there is ‘no hope’ the Tories will win the next election.

RECAP: Asian equities mostly rose yesterday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and bank interest-rate hikes. But while global markets have enjoyed a broadly positive week, recession worries and Chinese military drills around Taiwan have traders' nerves on edge.

Tory favourite for No 10 says taxes should be kept low as rival Sunak says his priority will be to tackle inflation