The Latest Breaking News from Bank of England

The old notes cannot be spent in shops or used in business transactions and will not even be accepted by most banks

The Prime Minister refused to back down from her plan and failed eight times to rule out cutting benefits and the state - but admitted she has 'learned' from the market chaos

Britain has endured 40 years of decline thanks to this faulty economic theory. Will Keir Starmer finally kill it off?, says Yanis Varoufakis, leader of MeRA25 in Greece’s parliament

The deadline to use paper £20 and £50 notes by was Friday

Market turmoil sparked by mini-budget saw banks scrambling and 1,688 home loans pulled from shelves

The new prime minister began September promising a ‘new era’ for Britain. One economic crisis later, she has delivered

With UK government bonds and sterling both falling hard in recent days, the Bank of England has been forced to step in. Only a few months after it started tightening monetary policy to fight inflation by raising benchmark interest rates and ending its programme to “create” money through quantitative easing…

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

Douglas Ross faced tough questions over the fall-out from the Chancellor's mini-budget