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The Latest Breaking News from Rachel Reeves

Keir Starmer Leads Cabinet Meeting Amid Bank of England’s Grim Economic Forecast

Keir Starmer is holding an extensive cabinet meeting with senior ministers following the Bank of England's sharp revision of the UK's growth forecast.

The Fashion Central

Ed Miliband says he abides by collective responsibility on Heathrow expansion

Expanding Heathrow to build a third runway was among a throng of major projects Chancellor Rachel Reeves said the Government would support.

Evening Standard

Bank of England pour doubts over major interest rate cut with fresh inflation prediction: Live

Interest rates were cut from 4.75 per cent to 4.5 per cent on Thursday

The Independent UK

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Heathrow third runway fails to get backing from Ed Miliband who says decision on it 'some years off'

A bigger Heathrow is enthusiastically supported by Chancellor Rachel Reeves

Evening Standard

Ed Miliband U-turns on Heathrow expansion after previous opposition

Energy secretary insists expansion can be compatible with government’s net zero commitments

The Independent UK

US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened

US economy added 143,000 new jobs last month, fewer than expected

The Guardian - UK

Friday briefing: The Bank of England interest rate cut suggests there are more gloomy times ahead

In today’s newsletter: The Bank also downgraded its growth forecast for the UK, piling pressure on Labour to turn its rousing rhetoric on economic expansion into reality

The Guardian - UK

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What the papers say – February 7

Here are the biggest stories leading Friday’s front pages.

Evening Standard

Bank of England interest rate cuts are a much-needed boost for the economy

THE INDEPENDENT VIEW: Editorial: The quarter percentage point cut surprised no one but it is still more significant than it sounds – and we can expect Rachel Reeves to make the very most of it in the weeks ahead

The Independent UK

‘Stagflation’ fears as Bank of England cuts growth forecast and warns of price rises

UK economy expected to grow by just 0.75% this year, in fresh blow to Rachel Reeves’s attempts to raise confidence

The Guardian - UK

Grim news for Rachel Reeves is good news for the FTSE 100

The stock market is not the economy – as shown by the new closing high after the Bank of England’s rates cut

The Guardian - UK

Financial Ombudsman Service chief quits months after Reeves’ call for reform

Abby Thomas has stepped down following criticism over the ombudsman service’s role in the motor finance commission scandal.

The Independent UK

The Observer view on a third Heathrow runway: Rachel Reeves is flying in face of a dire climate threat

On almost every level the chancellor’s decision to expand the London airport looks naive, if not foolish

The Guardian - UK

Bank of England cuts rates but slashes growth forecast in blow to Labour

The base rate fell to 4.5% on Thursday, but the Bank halved the UK’s economic growth forecast for this year while predicting surging inflation.

Evening Standard

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Evening Standard

Interest rates: Why have they been cut and what does it mean?

The PA news agency looks at the outcome of the Bank of England’s decision, and whether rates will fall again soon.

The Independent UK

Gloomy growth forecast adds to Rachel Reeves’ woes

The Bank of England cut interest rates but halved its growth forecast.

Evening Standard

Recession alarm bells ring as Bank slashes 2025 growth forecast to just 0.75%

Inflation also expected to be higher than previously forecast, rising to 3.7% this year

The Independent UK

Bank of England cuts interest rates to 4.5% as it downgrades growth forecast

The Bank voted to reduce the cost of borrowing on Thursday, but slashed its growth forecasts for the UK economy.

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The Independent UK

Rachel Reeves hit by gloomy UK growth forecast despite interest rate cut to 4.5%

The Bank of England has cut interest rates by 0.25 per cent to 4.5 per cent but downgraded forecasts on growth

The Guardian - UK

Rate cut can lift mood but Bank’s forecasts are unambiguously bleak

Weak jobs market and above-target inflation will dent Reeves’s growth plans and may wipe out fiscal headroom

The National (Scotland)

Blow for Labour's 'growth' drive as Bank of England cuts forecast in half

THE Labour Government’s flagship economic pledge has been dealt a blow after the Bank of England halved its growth forecast for 2025 ...

The Independent UK

What the latest interest rates vote means for your mortgage, savings and bills

The Bank of England has held the base rate to 3.75 per cent, the lowest level in three years

The Guardian - UK

Bank of England cuts interest rates to 4.5% and halves UK growth forecast

Latest quarter-point reduction comes with warning households face inflation of 3.7% by autumn

The Guardian - UK

Civil servants will need to work efficiently or face redundancy under new rules

Cabinet Office minister will unveil a set of performance standards intended to ensure value for money in Whitehall

The Guardian - UK

Tech firms, publishers and Which? raise fears over new boss at competition regulator

Exclusive: Appointment of ex-Amazon UK boss prompts group letter to chancellor airing fears over approach to big tech

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