The Latest Breaking News from The Bank of England

A report also anticipates a rise in credit card defaults in the coming months

The rate-setter said he thinks the likelihood of a ‘soft landing’ following the recent uptick in inflation is now receding.

Average two and five-year fixed mortgage rates have risen for the first time in months

With sticky inflation, ‘any imminent base rate cuts by the Bank of England seem unlikely’, Moneyfacts said.

Higher than expected inflation has dashed hopes of a series of interest rate cuts from the Bank of England

Some of the world’s biggest tech firms have soared in value over the last year. As AI evolves at pace, there are hopes that it will improve lives in ways that people could never have imagined a decade ago – in sectors as diverse as healthcare, employment and scientific discovery.

As central bankers warn of an AI bubble, Silicon Valley’s true believers are doubling down—turning AGI prophecy into cash, clout, and billion-dollar bets.

Mark Carney has long been recognized as an authority on climate change. In 2015, as the governor of the Bank of England, he gave his famous “tragedy of the horizon” speech that introduced climate change to bankers as a threat to international financial stability.

Major banking institutions are starting to warn of an impending market correction for AI companies and their stock prices. Although not all agree when it'll happen, most suggest it is coming as the major industry players continue to invest in each other, driving up investments and share prices in turn.

Bank’s Financial Policy Committee make comparison with dot com crash

Financial institutions are raising concerns about a potential AI investment bubble