All the updated news related to Bank of England

All the news related to Bank of England updated in real time

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Bank takes steps to ensure ‘orderly end’ to emergency bond-buying scheme

The Bank of England has unveiled further measures to ensure an “orderly end” to its emergency gilt-buying programme, which was launched after the mini-budget market turmoil left the UK on the brink of a financial crisis. The Bank said it will double ...

10 Oct 2022 at 09:13

Pound weakens and government borrowing costs rise again after Truss speech

The pound has wiped out its gains from earlier in the day, falling in value against the US dollar following the Prime Minister’s speech at the Conservative Party conference. Sterling dipped by 1.4% to 1.1312 dollars shortly after Liz Truss told the ...

05 Oct 2022 at 15:53

UK Government’s tax rate U-turn shows ‘utter ineptitude’, says Sturgeon

The Chancellor’s tax U-turn shows the “utter ineptitude” of the UK Government, Scotland’s First Minister has said. Kwasi Kwarteng announced early on Monday that the scrapping of the top rate of tax would not go ahead in the wake of market upheaval....

03 Oct 2022 at 10:24

Liz Truss and Kwasi Kwarteng U-turn on scrapping 45p tax rate

Liz Truss and Kwasi Kwarteng have abandoned a plan to abolish the top rate of income tax for the highest earners in an astonishing U-turn. The Chancellor acknowledged that their desire to borrow billions to axe the 45% rate on earnings over £150,...

03 Oct 2022 at 12:08

Chancellor expected to U-turn on scrapping 45p tax rate

Chancellor Kwasi Kwarteng is expected to make an astonishing U-turn over the abolition of the top rate of income tax for the highest earners. Mr Kwarteng is believed to be preparing to issue a statement on Monday, climbing down over the plan to ...

03 Oct 2022 at 08:29

I can’t promise to insulate Scotland from ‘fiscal recklessness’, says Swinney

The minister in charge of Scotland’s finances has said he cannot promise he can insulate the country from the “fiscal recklessness” of the UK Government. Deputy First Minister John Swinney – who has taken control of the finance brief while ...

04 Oct 2022 at 13:54

UK Government tax U-turn should be welcomed, says Scottish Secretary

The Chancellor’s decision not to scrap the top rate of tax should be welcomed because he “listened” and “acted swiftly”, Scottish Secretary Alister Jack has said. Kwasi Kwarteng announced on Monday morning that the UK Government would not ...

03 Oct 2022 at 13:17

City

Legal & General reassures investors on financial health after mini-budget impact

Insurance giant Legal & General has sought to reassure investors over its financial strength after suffering hefty share falls amid the mini-budget market turmoil that left some pension funds across the industry on the brink of collapse. ...

04 Oct 2022 at 13:03

‘Whole package’ of UK Government financial measures needs rethink, says Sturgeon

The “whole package” of plans from the UK Government to boost growth needs a rethink, Nicola Sturgeon has said. The Chancellor announced a U-turn on Monday to scrap the top rate of tax, but said that would be the only reversal from the ...

03 Oct 2022 at 17:12

Soaring inflation pressures Bank to further hike interest rates, economists say

New inflation figures are likely to ramp up pressure on the Bank of England to once again rapidly hike interest rates when its decision-makers next meet, several experts have said. The Bank of England’s Monetary Policy Committee ...

17 Aug 2022 at 11:53

Poorest families continue to be hardest hit by inflation, say experts

Poorer families will continue to be hardest hit by rising inflation as they spend more of their income on increasingly expensive food, analysis of new official data shows. The Resolution Foundation said that while inflation hit ...

17 Aug 2022 at 11:26

Double-digit inflation leaves families ‘worried sick’ over cost of living

The cost-of-living crisis was catapulted further up the agenda in the Conservative leadership election as new figures showed that under-pressure households faced a worse-than-expected hit in July. Consumer Prices Index ...

17 Aug 2022 at 17:36

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