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The Latest Breaking News from Bank of England

Bank of England takes emergency action as UK enters 'financial crisis territory'

THE Bank of England has been forced to intervene in an attempt to avoid a full-blown financial crisis after Liz Truss’s government announced…

The National (Scotland)

Bank of England launches emergency programme to prevent 'material risk' to UK financial stability

The Treasury has said the Government will continue to 'work closely' with the Bank of England after the move was announced

Manchester Evening News

What is inflation and what is its current rate in the UK and Europe?

UK inflation fell this week as fuel prices dropped

The Independent UK

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Bank of England launches bond-buying scheme to stave off 'material risk to UK'

The bank is taking action to protect the economy

Wales Online

Bank launches emergency intervention in markets after Kwarteng mini-budget

Bank of England takes urgent steps to buy long-dated UK government bonds

The Guardian - UK

Bank of England's emergency move to calm market chaos by buying UK government bonds

The UK's central bank said it is trying to get a grip on the country's worsening financial situation by buying up bonds in an attempt to bring down soaring interest rates

Daily Mirror

Bank of England announces emergency action to try to calm markets

Central bank tries to stave off ‘material risk to UK financial stability’

The Independent UK

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Pound to dollar: Why is the sterling so weak?

British pound slumps to lowest level against dollar since 1971 after Kwasi Kwarteng’s mini-Budget

The Independent UK

Rebuke from IMF is a global embarrassment for Truss and Kwarteng

Will PM and chancellor ignore advice under mounting pressure, which is also coming from US and Germany?

The Guardian - UK

Big-name high street stocks caught in market turmoil as UK warned of economic ‘doom loop’

Greggs, Sainsbury, Ocado and Tesco alone lose £1 billion in market value as UK shares tumble

Evening Standard

Austerity cuts ahead could mean ‘end of NHS’, warns ex-Bank of England deputy

‘Fundamental rethinking’ of the state could lie ahead, says Sir Charlie Bean

The Independent UK

Warning house prices could fall by 15% as banks hike mortgage rates

Veteran mortgage broker says he has not seen market move in such a way since 2008 financial crisis

The Independent UK

IMF heaps pressure on Kwasi Kwarteng over tax cuts

Kwasi Kwarteng will step up efforts to reassure the City about his economic plans on Wednesday after the International Monetary Fund (IMF) criticised the measures and the Bank of England signalled sharp interest rate rises could be on the way. The Chancellor will meet investment banks following days of turmoil…

Evening Standard

Moody’s warns against Kwarteng’s ‘unfunded’ tax cuts after IMF intervention

Global ratings agency questions ‘credibility of government’s fiscal strategy’ in stinging statement

The Independent UK

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The Guardian - UK

World’s central banks financing destruction of the rainforest

Corporate bonds intended to inject liquidity into markets profited companies engaged in deforestation

The Guardian - UK

UK house prices predicted to drop by at least 10% in 2023

As lenders pull mortgage products amid interest rate turmoil, experts forecast ‘significant fall’

The Independent UK

IMF urges UK to "re-evaluate" tax cuts on inflation concerns

The International Monetary Fund has urged the U.K. government to “reevaluate” a package of unfunded tax cuts that it says may fuel inflation and are likely to increase economic inequality

Daily Mirror

IMF launches stinging attack on Kwasi Kwarteng tax cut plans in 'very serious' warning

Chancellor Kwasi Kwarteng spooked markets this week after delivering his Mini-Budget, with the pound plunging to an all-time low against the US dollar and mortgage deals being pulled

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news in one place.

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The National (Scotland)

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 Independent UK

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 Guardian - UK

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

Evening Standard

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

Daily Mirror

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

ABC News

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.

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