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The Latest Breaking News from Bank of England

Labour demands recall of Parliament after Kwarteng’s mini-budget triggers chaos

Labour leader Sir Keir Starmer said the Government should abandon the measures announced by Kwasi Kwarteng before more damage is done.

Evening Standard

Truss accused of hiding from budget chaos as No 10 resists recall of MPs

Opposition leaders urge PM and chancellor to take action over economic fallout and recall parliament

The Guardian - UK

Explained: Why is the Bank of England buying up government debt?

THE Bank of England has intervened in order to try and stabilise financial markets in the wake of steep falls in the pound against the dollar.

The National (Scotland)

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Labour's plans for the economy explained as turmoil engulfs UK - and hits you

Labour has sought to cast itself as the party of 'sound money' as alarm mounts over the Chancellor's explosive mini-Budget

Daily Mirror

What is a government bond? The Bank of England emergency intervention explained

The Bank of England’s new emergency measure aims to prevent the Government’s borrowing costs from spiralling out of control

Evening Standard

'Where is Liz Truss?' Opponents demand answers and recall of parliament to deal with financial crisis

Labour and the SNP called on the Westminster government to face the Commons and the markets as the Bank of England intervened with reserves to keep the UK economy stable.

Daily Record

Bank of England launches urgent bond-buying programme to avoid 'material risk' to UK economy

'The Bank of England stands ready to restore market functioning and reduce any risks from contagion'

Birmingham Post

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House prices 'could fall by up to 15% next year' as markets rattled by Mini-Budget

House prices are set to fall next year as fewer people buy property amid more expensive homeloans, higher interest rates, rising inflation and the risk of recession

Daily Mirror

Keir Starmer demands Parliament recall over economy as 'inept madness' sparks Tory fury

The Labour leader says the turmoil in the financial markets is 'self inflicted' with the crisis 'made in Downing Street' last week with the mini-Budget

Daily Mirror

Those profiting from pound plummet - Tory donor who placed bet and 'Truss supporters'

Crispin Odey was so confident with his prediction on the pound that he spent the day of the mini-budget shooting grouse

Daily Mirror

Truss urged by Starmer to recall Parliament as pound slumps despite Bank of England intervention

Labour leader adds to pressure on prime minister to call MPs back from conference recess to debate financial crisis

The Independent UK

Nicola Sturgeon warns UK is in 'financial crisis' and result could be worse than 2008 banking crash

The First Minister said it was inevitable there would be a sharp rise in interest rates - which would hit Scots with mortgages and credit card debt hard.

Daily Record

What Rishi Sunak predicted about Liz Truss’s ‘fairytale’ economic plans

Former chancellor warned of ‘inflationary spiral’

The Independent UK

Would-be homeowners giving up on dream amid fears interest rates will soar

There is speculation the Bank of England may have to jack interest rates to as high as 6%

Evening Standard

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The National (Scotland)

UK faces 'economic situation not seen in living memory' says First Minister

Nicola Sturgeon said that the impact of the sweeping tax cuts could lead to an economic crisis worse than the 2008 global financial crash

Evening Standard

Bank of England forced to intervene to calm markets

The Bank of England has launched an emergency UK Government bond-buying programme to prevent borrowing costs from spiralling out of control and stave off a “material risk to UK financial stability”. The Bank announced it was stepping in to buy Government bonds – known as gilts – at an “urgent…

The Guardian - UK

What is the Bank of England doing in bid to stabilise UK economy?

Threadneedle Street will buy UK government bonds as pound tumbles in response to Truss and Kwarteng’s mini-budget

Daily Mirror

Your mortgage questions answered - what to do next if you're on a fixed or variable deal

The mortgage market have been spooked by the Mini-Budget, with lenders pulling deals over fears that interest rates could hit 6% next year - here's what you need to know

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news in one place.

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Daily Record

Bank of England takes emergency action to prevent 'material risk' to economy

The Bank announced it was stepping in to buy Government bonds - known as gilts - at an "urgent pace" after fears over the Government's economic policies sent the pound tumbling and sparked a sell-off in the gilts market.

Insider UK

Bank of England begins emergency bond-buying as UK borrowing costs soar

Chancellor moves to reassure markets after his 'mini-budget' on Friday sent Sterling to an all-time low against the Dollar

The National (Scotland)

Nicola Sturgeon speaks out as Tories land UK 'in grip of economic crisis'

THE First Minister of Scotland has demanded action from the Tory government, warning that the UK is in the “grip of a rapidly deteriorating…

Evening Standard

Mortgage borrowers set to see bills climb higher amid concerns of emergency interest rate hike

A tracker mortgage is already about £210 per month more expensive on average than it was before base rate increases started last December.

Evening Standard

Bank of England forced to intervene to stabilise economy after Kwasi Kwarteng mini-Budget

The Bank of England on Wednesday made an emergency intervention to protect Britain’s “financial stability” after Kwasi Kwarteng’s shock mini-Budget.

Wales Online

Bank of England makes emergency step to calm the panic about UK stability on world markets

The bank said: 'Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability'

Evening Standard

Spending cuts made necessary by mini-Budget ‘could spell end of NHS’, top economist warns

Sir Charlie Bean, a former deputy governor of the Bank of England, said deep cuts would be needed to bring spending into line with GDP

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