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The Latest Breaking News from Bank of England

ASX boosted by miners, Dow Jones index in bear market, Australian dollar comes off lows

The Australian share market regains some ground, as the Dow Jones index enters a bear market, while the Bank of England says it will not hesitate to raise interest rates. The Australian dollar falls to the lowest since May 2020.

ABC News

The Leader podcast: The pound drops, but will it sink or swim?

Early on Monday the pound dropped to its lowest level against the dollar since 1971.

Evening Standard

‘It’s a major concern’: how two UK firms are facing up to pound’s crash

A craft brewer in Peterborough and a Birmingham metal stamping firm face new challenges as sterling slides

The Guardian - UK

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Sterling hits all-time low: two things can turn this around but neither is straightforward

While most people in the UK were still in bed in the early hours of Monday morning, the pound dived. It fell over 4% during Asia trading to reach its lowest ever level against the dollar of US$1.035, while also hitting €1.079 against the euro. This was an exceptional fall,…

The Conversation

What could the Bank of England do after pound plummets to record low?

Analysts want Bank of England to increase interest rates to ‘restore credibility’ to UK economy

The Independent UK

Kwasi Kwarteng declines to comment as pound hits all-time low against US dollar

The Bank of England is expected to give a statement on the sterling’s slump

The Independent UK

Bank of England will change interest rates ‘as much as needed’ to control inflation, says Andrew Bailey

The Bank of England is watching developments in financial markets ‘very closely’, says Governor Andrew Bailey

Evening Standard

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Bank of England says it 'will not hesitate' to change interest rates in emergency statement

THE Bank of England is preparing to make an emergency statement this afternoon after the pound plummeted to its lowest ever level against the US…

The National (Scotland)

What to do with Scottish paper £20 and £50 notes as expiry date looms

Scottish paper banknotes from Bank of Scotland, Clydesdale Bank, and Royal Bank of Scotland are being taken out of circulation and the deadline is just in a matter of days.

Glasgow Live

Tumbling pound will intensify cost of living crisis, government warned

Fall in pound will ‘worsen inflation and lengthen the cost of living crisis’, says think tank

The Independent UK

Money expert shares how to manage your mortgage, credit cards and savings after interest rates rise

The new Bank of England base rate of 2.25% is the highest level since November 2008.

Daily Record

Markets warn sterling slump could lead UK interest rates to triple by next year

Analysts expect Bank of England to convene meeting to raise rates with further increase in November

The Guardian - UK

Government to push on with tax cuts as pound hits all-time low against dollar

Neither Chancellor Kwasi Kwarteng nor Liz Truss are currently expected to publicly address the major market shift, following Friday’s mini-budget

Evening Standard

Four-day warning over £20 and £50 notes - as Post Office braces for huge queues

Post Office staff are prepared for high numbers of customers with the Bank of England warning there is still £14bn worth of paper £20 and £50 notes still in circulation

Daily Mirror

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The Independent UK

When is the next Bank of England interest rate announcement?

Pound plummets as currency markets react against new chancellor’s drastic ‘mini-Budget’, prompting fears emergency intervention could become necessary

Evening Standard

The pound: how low can it go?

City experts are watching for sterling hitting parity with the dollar amid talk of an emergency rate hike

Evening Standard

Go-fast Kwasi is taking a leap of faith even Indiana Jones would shrink from

Afficionados of Indiana Jones will know exactly which sequence provides the perfect accompaniment to Kwasi Kwarteng’s Growth Plan announced last Friday. Towards the end of Indiana Jones and the Last Crusade, when Jones has to cross an unbridgeable crevasse he does so by stepping out with a leap of faith…

Wales Online

Warning to everyone with a mortgage after Friday's announcement

A raft of tax cuts unveiled on Friday last week have prompted concerns

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The Independent UK

Post Office braces for rush to change old banknotes before deadline this week

Friday is last day that paper £20 and £50 banknotes have legal tender

The Independent UK

Mortgage borrowers could see monthly bills climb higher

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

Nottingham Post

Bank of England warning as shoppers have just days left to use paper notes

The final countdown is on

The Independent UK

Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister

‘Liz is f*****’, says former minister in Boris Johnson government

Evening Standard

Pound hits all-time low in backlash at Kwasi Kwarteng’s tax cuts

Pound crashes to its lowest level against the dollar since 1971

Evening Standard

Bank of England faces growing pressure for emergency rate rises as bond yields jump

Pound falls to lows not seen in a generation as confidence in UK governments tax plans plummets on global markets

The Independent UK

Holiday money: How to stretch your sterling as value of pound plunges

The pound has lost 25% of its value against the US dollar and many other currencies so far this year

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