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The Latest Breaking News from Bank of England

IMF urges Kwasi Kwarteng to change course in extraordinary statement

THERE is international pressure on Chancellor Kwasi Kwarteng to change course following his mini budget announcement.

The National (Scotland)

Liz Truss must fix self-inflicted ‘mess’ after IMF warning, says Keir Starmer

Labour leader says his own mortgage payments have gone up by ‘few hundred pounds’ a month

The Independent UK

Pound falls as Bank of England intervenes to calm markets

Sterling was trading at $1.073 on Wednesday afternoon, improving from $1.066 at 2pm

The Independent UK

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Bank of England intervenes in bond market - as it happened

Bank’s emergency move brings relief to bond market, but fails to stabilise UK currency

The Guardian - UK

London politics LIVE: Treasury minister says ‘we’ll press on with tax cuts’ as Tory backlash grows amid markets turmoil

Tory MP slams ‘inept madness’ in Chancellor’s mini-Budget - but Treasury minister rejects calls for U-turn

Evening Standard

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

Daily Mirror

What's happening with the British pound and what does it mean for Australia's economy?

With the UK government fighting off fears of a recession, the British pound tumbled against the US dollar this week. Here's why stock markets are concerned and what it means for Australia.

ABC News

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List of DWP payments and money changes happening this week

We've rounded up the payment and money changes coming in this week

Liverpool Echo

Desperate family still want answers after young dad vanished from pub 23 years ago

Martin Joyce's sister believes 'he is still out there' despite his disappearance in 1999, which prompted a murder investigation that led to police digging up a pub basement

Daily Mirror

International Monetary Fund makes extraordinary intervention as it urges Chancellor to change course

Kwasi Kwarteng has been urged to 're-evaluate the tax measures' outlined in last week's mini-budget

Wales Online

ASX sinks to three-month low, Wall Street sell-off deepens on 'global recession' risk

Australian shares have dropped to their lowest level in three months, as surging borrowing costs intensified fears of a global recession — spooking investors into the arms of the safe-haven US dollar and punishing currencies across the region.

ABC News

IMF urges UK government to reconsider tax-cutting plans

International Monetary Fund says measures should target households worst affected by energy crisis and inflation

The Guardian - UK

Michael Pascoe: RIP trickle-down economics – even the financial markets have given up

Trickle-down economics: The cry of “you can’t tax your way to prosperity” is joined by “you can’t tax cut your way to prosperity either”.

The New Daily

Speed and scale of events may force Bank to expedite next rate decision

Amid extraordinary market changes, the Bank of England seems unlikely to sit on its hands

The Guardian - UK

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The Guardian - UK

Homeowners warned of ‘significant’ rise in UK interest rates

Bank of England’s chief economist speaks out after mini-budget, with financial markets expecting rates to reach up to 6%

The Guardian - UK

‘Fiscal sustainability’ plus rising borrowing costs could add up to cuts

To make the sums work, some suggest Kwasi Kwarteng may include deep spending reductions in his medium-term fiscal plan

Manchester Evening News

Mystery of young dad who vanished after going to the pub 23 years ago

'King of the family' Martin Joyce would have turned 52 last week, and sister believes 'he is still out there'

Manchester Evening News

Should you remortgage your house and if so, when? - Experts advise on whether to act now or wait

Questions around remortaging have exploded as mortgage lenders halt deals

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news in one place.

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Evening Standard

Bank of England warns of ‘significant’ rate rises amid sterling turmoil

The Chancellor sought to reassure investors as the Bank of England’s chief economist said they could not ignore the fall in sterling

Wales Online

Six DWP benefits and money changes that are due this week

There are a number of important changes coming this week which could impact your finances

The Independent UK

New stamps and banknotes featuring King Charles’ image to be introduced

King Charles III’s image will appear on stamps, coins and banknotes in the future.

The National (Scotland)

UK Government accused of 'robbing young people of home ownership' as mortgage offers vanish

THE SNP has accused the Tory UK Government of "robbing young people of their dream of home ownership" and "pushing families into…

Daily Mirror

Tory donor's firm which employed Kwasi Kwarteng rakes in millions betting against pound

Crispin Odey - who The Mirror previously revealed made £220 million overnight after the Brexit vote - has overseen a 145% rise in his company's main fund this year, as Tory fury mounts over traders "shorting" the pound

Wales Online

What the current financial climate really means for homeowners and buyers according to a Welsh mortgage broker - and his one piece of advice

One broker in south Wales said he's been "flat out with people panicking" since the Bank of England announced rates were going up

The Guardian - UK

Kwarteng’s tax cuts will force ‘significant’ interest rate rises by Bank of England

Chief economist says mini-budget will increase inflationary pressure in remarks likely to further spook mortgage borrowers

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