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The Latest Breaking News from The Bank of England

Ex-Bank of England boss endorses Labour as Rachel Reeves vows to ‘rebuild’ economy after Tory ‘misrule’

Mark Carney says ‘beyond time’ for a Labour government in major coup for opposition

The Independent UK

UK bonds have hit a 25-year high – here's what that means for the economy

It’s been more than a year since the UK economy was thrown into crisis after then-prime minister Liz Truss suggested making a wealth of unfunded tax cuts in her September 2022 mini-budget. But a recent bond market sell-off has now sent borrowing costs rocketing again, pushing the bond market even…

The Conversation

Buyer’s market: London house prices down 4.8 per cent reports Halifax

London has seen the biggest fall in house prices in cash terms of any UK region

Evening Standard

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read the most diverse news in one place.

Buyer’s market fuels fastest fall in UK house prices in 14 years

High mortgage costs result in sixth straight month of sellers being forced to reduce prices, says Halifax

The Guardian - UK

Bond yields rise after US jobs report smashes forecasts – as it happened

Rolling coverage of the latest economic and financial news, as US non-farm payroll shows surge in hiring last month

The Guardian - UK

UK house prices have proven more resilient than expected, says Halifax

Despite recent house price falls,the average property value remains more than £39,000 above pre-pandemic levels, Halifax said.

The Independent UK

What are bond yields and why are they at a 25-year high in UK?

Inflation expectations have pushed up government’s long-term cost of borrowing, which is expected to slow economy

The Guardian - UK

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Sharon White stepping down from John Lewis; UK house prices fall at fastest rate since 2009 – as it happened

John Lewis chair Sharon White will not seek second term at retailer, as Nationwide reports UK house prices fell 5.3% in year to September

The Guardian - UK

One in four new UK homeowners opt for ‘marathon mortgages’ to cut payments

Buyers under 29 choosing at least 35-year repayment terms to bridge gap between rising living costs and high asking prices, says Experian

The Guardian - UK

Gyles Brandreth recalls late Queen’s savage quip to Mervyn King during financial crisis

Exclusive: Author and broadcaster recalled fond memories of the late monarch during a talk at Henley Literary Festival

The Independent UK

Number of home buyer mortgage approvals slumped to six-month low in August

Net approvals for remortgaging fell to the lowest level since 2012, the Bank of England said.

The Independent UK

Mortgage approvals plunge in August as full impact of higher interest rates starts to come through

The average interest rate paid on new mortgages, which had only been edging up even as lenders rapidly increased prices, rose by jumped to 4.82%

Evening Standard

Average five-year fixed mortgage rate in UK falls back below 6%

First time since early July that average rate has been below 6%, with some deals now under 5%

The Guardian - UK

Average five-year fixed-rate mortgage falls back below 6%

The Bank of England’s decision to pause its interest hikes led to a further wave of rate cuts from lenders

Evening Standard

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The Guardian - UK

German inflation falls to 4.5%; UK home sellers increase discounts; mortgage rates ease – as it happened

Rolling coverage of the latest economic and financial news

The Conversation

Why central banks should stop raising interest rates

Mortgage borrowers breathed a sign of relief following a recent pause in the Bank of England’s 14-month campaign of base rate hikes.

Evening Standard

Pounded: Sterling heads to worst month for a year

THE pound remained under intense selling pressure today as global investors backed the dollar leaving sterling on track for its worst month since Liz Truss’s disastrous mini-budget a year ago.

The Guardian - UK

UK economy ‘will shrink for two years as eurozone and US grow’

Thinktank chief and former Bank MPC member gloomy about stubborn inflation and labour shortages

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The Conversation

Inflation: I've been analysing the Bank of England's forecasts over the past two years – here's how they got it wrong

The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation. Had it done so, it could have reacted more quickly and prevented inflation from rising as high as 11% in autumn 2022.

The Guardian - UK

‘Imagine Westminster under water’: stricter tests needed to see how City copes with climate disasters

Sam Woods, head of the Bank’s financial stability watchdog, says lenders have only shown they can survive ‘slow burn’ changes to temperatures

The Guardian - UK

Zombie Britain sees zero growth – and that’s the good news

Some surveys predict recession, but with pay and confidence rising, they may be wrong. That’s the best we, and the PM, can hope for

Evening Standard

Is the cost-of-living squeeze coming to an end?

City voices: The crisis may not be over, but there are signs we’re approaching the end

The Independent UK

Recession ‘more likely’ as key gauge misses expectations

The private sector looks set to shrink again, according to preliminary data from an influential survey.

The Independent UK

Relief for homeowners and buyers as lenders cut mortgage rates

After the Bank of England brought an end to a devastating series of interest rate hikes, lenders including NatWest, TSB, Nationwide and Virgin Money have cut mortgage rates

Evening Standard

FTSE 100 Live: ‘Recession increasingly likely’, shares end week lower

Retail sales figures have kept the UK economy in focus after yesterday’s knife-edge rates decision by the Bank of England.

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