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The Latest Breaking News from Bank of England

Finance crisis - UK pension funds were on verge of being wiped out today by Kwasi Kwarteng budget

Reports have emerged that the Bank of England emergency intervention in the money markets was sparked by fears there would be an unprecedented run that would have left pension funds insolvent.

Daily Record

Keir Starmer calls for emergency Parliament recoil amid turmoil in UK financial markets

‘What the Government needs to do now is recall Parliament and abandon this budget’

Evening Standard

The Leader podcast: Bank of England’s emergency action explained

The Bank of England has announced emergency action to try to stabilise markets, in the wake of the crisis caused by the Chancellor’s mini budget announcement last Friday.

Evening Standard

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Is the UK economy already in recession?

THE Bank of England has been forced to step in following the collapse in the value of the pound after Chancellor Kwasi Kwarteng’s “mini…

The National (Scotland)

Home Prices Down, Sales Up

Good Morning Everyone! Remember, no one gets rich panic selling.

Benzinga

Bank of England steps in to prevent UK financial crisis

On accepting responsibility for the calamitous Bay of Pigs invasion of Cuba in April 1961, John Kennedy noted that “Victory has a thousand fathers, but defeat is an orphan.”

Evening Standard

What is the IMF and what did it say about the Government’s fiscal plans?

The IMF claims the £45 billion-worth of tax cuts will likely increase inequality in the UK

Evening Standard

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Martin Lewis issues mortgage advice as lenders pull deals

"What's happening is changing very fast, and is extremely uncertain"

Nottingham Post

What are government bonds and how will the Bank of England use them to stabilise markets?

Threadneedle Street intervenes to buy up long-dated gilts and ‘restore orderly market conditions’

The Independent UK

Landlords could ‘pass on’ rising mortgage costs to renters and spark homelessness surge, charity warns

Mortgage providers have begun raising interest rates to levels not seen since the 2008 financial crisis

The Independent UK

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)

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

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Evening Standard

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

Daily Record

'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.

Birmingham Post

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'

Daily Mirror

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

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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

The Independent UK

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

Daily Record

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.

The Independent UK

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

Former chancellor warned of ‘inflationary spiral’

Evening Standard

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%

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

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