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The Latest Breaking News from Bank of England

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

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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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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

The Independent UK

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…

Evening Standard

Warning to everyone with a mortgage after Friday's announcement

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

Wales Online

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.

The Independent UK

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

The final countdown is on

Nottingham Post

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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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The Independent UK

Why has the pound hit a record low?

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

Daily Record

Post Office expects surge in paper banknote deposits this week before they are no longer legal to use

Paper £20 and £50 notes will stop being legal tender after September 30.

Manchester Evening News

Holidays, spending and benefits? What the pound hitting a record low means for Britons

Sterling plunged to a record low just days after Kwasi Kwarteng's mini-budget was set out

Daily Mirror

What a weak pound means for your money as Sterling hits all-time low against US dollar

The pound plunged by more than 4% to $1.0327 in early Asia trade today - its lowest level since the decimalisation of the currency in 1971 - but what does this mean for you?

Wales Online

Why the strength of the pound falling is very bad news for you

Energy prices and food will get even more expensive - there has already been a warning on beer costs

The Guardian - UK

Pound’s plummet underlines schoolboy error by Kwasi Kwarteng

Chancellor added to market worries by pledging further tax cuts in full budget planned for later this year

Al Jazeera

Tax-cut plan pulls British pound to 40-year low against US dollar

The pound trades against the dollar at levels last seen in the early 1980s as the UK struggles to fight inflation.

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