The Latest Breaking News from The Bank of England

Confidence in the UK financial system by bank executives is falling and there is a strong chance of a “high impact” event in the next 12 months.

Experts suggested people could be turning to Government-backed accounts to feel their money is secure amid global banking jitters.

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major central banks announced a coordinated effort to boost the flow of US dollars through the global financial system.

Governor tells MPs market turmoil has ‘tested’ banking sector for signs of weaknesses but denies fresh crisis is looming

Treasury committee holds hearing on the sudden collapse of Silicon Valley Bank this month

The Bank of England raised its main interest rate for the eleventh time in a row to 4.25% at its March meeting. At its previous meeting in February the Bank was optimistic about the prospects for inflation in the coming year, saying: “We expect inflation to fall quickly this year.”

The Bank of England is faced with the sort of choice that central bankers prefer not to confront. Inflation is far too perky, which warrants higher interest rates. The global financial system, however, is in an unexpected state of stress: the financial “central heating” is on the blink. Past financial…

Higher interest rates and cuts in lending pile pressure on commercial property sector after hit from hybrid working

Letter: Research showing that most price increases came from ‘companies seeking to maintain profit margins’ has not been noticed by the Bank, writes Bernie Evans

New approach is needed to get UK through looming credit crunch after failure of recovery from crash