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The Latest Breaking News from Bank of England

UK economy grows slightly after predicted decline

It grew 0.2% in three months to June 2022

Wales Online

Pound falls after UK’s fiscal watchdog meets Liz Truss and Kwasi Kwarteng – as it happened

Pound trading 0.4% lower at $1.1066 following OBR meeting with UK PM and chancellor; economy grew in second quarter but ‘continues to slow’

The Guardian - UK

Last day to spend old £20 and £50 banknotes before they expire and go out of circulation

The Bank of England will be withdrawing legal tender status of the notes after September 30, 2022. Brits will not be able to use paper banknotes for payment from tomorrow

Daily Mirror

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Can I still use my old bank notes as £20 and £50 paper bills no longer legal tender

Paper banknotes have been around for more than 300 years, but will cease to be legal tender after September 30

Daily Mirror

Consumers warned that September 30 is last day paper banknotes can be spent

The old £20 and £50 notes will not be legal tender come October

Wales Online

Final chance to spend or deposit paper £20 and £50 bank notes today

They will no longer be legal tender

Nottingham Post

ASX 200 takes a battering in September with it losing 7.5pc in a month

It tracks a broad global sell-off, as recession fears mount in the US as its Federal Reserve fails to temper fears about more rate hikes.

ABC News

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Slight stock uptick after England rejig

The Stock Exchange of Thailand (SET) and other Asian bourses were broadly up yesterday in early trade on the expectation that several central banks will follow the Bank of England's move by injecting liquidity to shore up their currencies, according to analysts.

Bangkok Post

Liz Truss to hold emergency talks with OBR after failing to calm markets

Exclusive: in unusual move, PM and Kwasi Kwarteng will meet fiscal watchdog after mini-budget sparked investor panic

The Guardian - UK

FM mocks idea of 'mirroring' Tory policies – as UK poll gives Labour 33-POINT lead

NICOLA Sturgeon has questioned “what planet” Liz Truss is living on after the Prime Minister suggested Scotland should copy her financial…

The National (Scotland)

‘I’d never seen anything like it’: how market turmoil sparked a pension fund selloff

Bank of England stepped in on Thursday to stabilise price of UK government bonds and avert a deeper crisis

The Guardian - UK

Grinning Liz Truss says it's not her job to give mortgage advice as budget causes chaos

The shameless Prime Minister also appeared to deflect blame for rising interest rates onto the Bank of England and claimed a global global economic pressure is responsible for the UK's woes - despite no other currencies plummeting to the same extent

Daily Mirror

What’s Next for Britain? Simon Wolfson’s prediction isn’t cheery

Share price fell 13% after CEO’s warning worst is to come, but scale of uncertainty makes precise projections impossible

The Guardian - UK

The Guardian view on the UK economy: sack Kwarteng, oust Truss

Editorial: The crisis was created by the new government. But the British people, not ministers, are paying the price

The Guardian - UK

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Benzinga

SPDR Gold Trust Consolidates As Bank Of England Seeks To Stabilize Markets

The SPDR Gold Trust (NYSE: GLD) experienced some volatility intraday trading up and down within Wednesday’s range.

The Independent UK

Bombshell polls throw massive question mark over Liz Truss’s future as PM

Tory meltdown after ‘unforced error’ Budget gifts Keir Starmer leads of up to 33 points

Manchester Evening News

We asked every Tory MP in Greater Manchester what they thought about the mini-budget - not one of them replied

There are eight Conservative MPs in the region

The Guardian - UK

Treasury watchdog to ask Kwarteng to hand over growth forecasts

Tory chair Mel Stride says committee needs to hear how chancellor will boost growth, and suggests one option might be via immigration

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The Guardian - UK

Doom loops and margin calls: 10 terms that explain the market meltdown

Your one-stop shop for all the jargon you’ve been reading since Kwasi Kwarteng’s mini-budget

Wales Online

The nine worst blunders Liz Truss made on this morning's tense radio tour

She used one phrase a whopping 61 times

Newsroom.co.nz

The UK's economic turmoil doesn't have to be ours

Lack of coordination between monetary and fiscal policy is hurting the UK economy and threatening a global currency crisis. What might that mean for NZ?

The National (Scotland)

Douglas Ross ‘concerned’ about his mortgage – despite backing Tory mini-budget

THE leader of the Scottish Conservatives has said mortgage payments are “an absolutely huge concern” – despite backing the UK Government’s…

Wales Online

Friday is the last day you can use paper £20 and £50 notes - what to do if you've got one

They cease to be legal tender on Saturday

The Conversation

How bonds work and why everyone is talking about them right now: a finance expert explains

The Bank of England is buying bonds again. Just as it was about to start selling the debt it had accumulated as part of its last effort to support the economy during the COVID-19 pandemic, the central bank has been forced to announce a new scheme to shore up investor…

The Guardian - UK

A global problem? Liz Truss’s claims on financial chaos fact-checked

We look at claims made by the PM and the chief secretary to the Treasury that have raised eyebrows

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