The Latest Breaking News from Bank of England

The deadline to use paper £20 and £50 notes by was Friday

Market turmoil sparked by mini-budget saw banks scrambling and 1,688 home loans pulled from shelves

The new prime minister began September promising a ‘new era’ for Britain. One economic crisis later, she has delivered

With UK government bonds and sterling both falling hard in recent days, the Bank of England has been forced to step in. Only a few months after it started tightening monetary policy to fight inflation by raising benchmark interest rates and ending its programme to “create” money through quantitative easing…

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

Douglas Ross faced tough questions over the fall-out from the Chancellor's mini-budget

Bank of England independence was no one’s first choice. Margaret Thatcher never did it, John Major preferred to devolve power to the German Bundesbank than grant it to Threadneedle Street. Because the power to set interest rates is an awesome one.

Tories head to conference with rocketing mortgage rates, a sterling crash and a 33-point poll lead for Labour

Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets.

The Conservative party is heading into its annual conference amid the catastrophic fallout from Chancellor Kwasi Kwarteng’s mini-budget. The decision to cut tax without a plan to pay for it caused a sharp fall in the value of the pound on currency markets, which reached an all-time low against the…

CHANCELLOR Kwasi Kwarteng is being urged to quit after taking a “wrecking ball” to the UK’s finances.