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The Latest Breaking News from Threadneedle Street

UK government borrowing costs hit 5% as Iran war fuels bond market sell-off

Yields on 10-year debt reach highest since the 2008 financial crisis, raising concerns of faster interest rate rises

The Guardian - UK

Narrow Bank of England vote puts end of interest rate-cutting cycle in sight

Another reduction expected next year but monetary policy committee is deeply divided over inflation prospects

The Guardian - UK

Bank of England urged to slow bond-selling plan to help cut record UK borrowing costs

Ex-MPC members say ‘quantitative tightening’ should be scaled back or halted entirely, saving the Treasury up to £10bn a year

The Guardian - UK

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‘Just hysteria’: UK faces a crisis but the IMF bailout talk is overblown

Despite sluggish growth and rising borrowing costs, most economists agree that Rachel Reeves doesn’t face a repeat of 1976

The Guardian - UK

Bigger than expected inflation jump worsens Bank of England dilemma

Bank torn between calls to cut interest rates to boost growth and need to damp down price rises

The Guardian - UK

Bank of England says companies freezing hiring plans as it keeps interest rates on hold

Rate-setting committee also points to mounting global uncertainty as it pauses its cycle of reductions

The Guardian - UK

Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe

Labour’s fiscal rules may limit the chancellor’s ability to act, but waiting it out may be the best option

The Guardian - UK

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Bank of England cuts interest rates by 0.25 points to 4.75%

Borrowing costs reduced for second time this year with Fed expected to cut US rates later on Thursday

The Guardian - UK

Bank of England could still cut interest rates again despite rise in inflation

July fall in service sector and core inflation may open door for policymakers to make reduction

The Guardian - UK

UK jobs market cools again as wage growth slows

Interest rate cut hangs in balance after ONS figures show annual pay growth eased to 5.7% in three months to May

The Guardian - UK

Bank of England keeps interest rates at 5.25% but hints at a June cut

Policymakers say they want to see more evidence that price pressures are easing before reducing rates

The Guardian - UK

What does Bank of England interest rates decision mean for my mortgage and savings?

‘Green shoots’ already appearing in housing market, expert suggests as market eyes rate cuts next year

The Independent UK

Bank of England has more ‘work to do’ to control inflation, says chief economist

Huw Pill raises possibility of interest rate rise, saying war between Israel and Hamas may affect oil priceBusiness live – latest updates

The Guardian - UK

Ben Bernanke to lead review into Bank of England forecasting errors

Former Fed chair appointed as Bank faces pressure to explain why economic forecasts have been so wide of mark

The Guardian - UK

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The Guardian - UK

Economic ‘Bazball’ will have replaced UK’s safety-first approach to inflation and growth by 2025

Rishi Sunak used just-go-for-it route in Covid crisis but Treasury and Bank of England now play with straightest of bats

The Guardian - UK

Bank of England may have to raise rates to 5% this summer, says Goldman Sachs

US investment bank believes inflationary pressures could force monetary policy committee’s hand

The Guardian - UK

Inflation may be about to fall, but the interest rate pain is not over yet

Resilient UK growth may well prevent the Bank of England from ending its run of increases

The Guardian - UK

Interest rates rise again but Bank of England hints at a brighter future

Threadneedle Street is still expecting a recession but it is likely to be a mild one by UK standards

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The Guardian - UK

UK demand for mortgages slumps as interest rates deter buyers

Bank of England figures also reveal many households are dipping into savings, rather than using credit cards

The Guardian - UK

Bank of England completes sale of £19bn emergency bond purchases after mini-budget

Bloomberg estimates Bank made profit of £3.5bn after intervening to prevent run on pension funds

The Guardian - UK

What does the autumn statement have in store? A poison pill for Labour

Spending cuts and tax rises will deepen the recession so the pain will be deferred until 2025 and a likely Starmer government

The Guardian - UK

Cliff edge looms for UK’s financial system

BoE’s move to end bond buying is a big gamble given the magnitude of the bind Britain is in

Evening Standard

Pound wobbles as Bank of England warns market support will end on Friday

Governor Andrew Bailey warned there could be no further extension beyond the end of the week

The Guardian - UK

Bank of England urged to extend emergency bond-buying scheme

After Bank expands action to stave off ‘fire sale’ in wake of mini-budget, investors ask for longer expiry date

Evening Standard

Thousands of Londoners face £10k mortgage blow as interest rates soar

Bank of England independence was no one’s first choice. Margaret Thatcher never did it, John Major preferred to devolve power to the German Bundesbank than grant it to Threadneedle Street. Because the power to set interest rates is an awesome one.

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