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The Latest Breaking News on Financial Services

Explained: Why is the Bank of England buying up government debt?

THE Bank of England has intervened in order to try and stabilise financial markets in the wake of steep falls in the pound against the dollar.

The National (Scotland)

What is the Bank of England doing in bid to stabilise UK economy?

Threadneedle Street will buy UK government bonds as pound tumbles in response to Truss and Kwarteng’s mini-budget

The Guardian - UK

Bank of England takes emergency action to prevent 'material risk' to economy

The Bank announced it was stepping in to buy Government bonds - known as gilts - at an "urgent pace" after fears over the Government's economic policies sent the pound tumbling and sparked a sell-off in the gilts market.

Daily Record

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Bank of England begins emergency bond-buying as UK borrowing costs soar

Chancellor moves to reassure markets after his 'mini-budget' on Friday sent Sterling to an all-time low against the Dollar

Insider UK

Bank of England forced to intervene to stabilise economy after Kwasi Kwarteng mini-Budget

The Bank of England on Wednesday made an emergency intervention to protect Britain’s “financial stability” after Kwasi Kwarteng’s shock mini-Budget.

Evening Standard

Bank of England makes emergency step to calm the panic about UK stability on world markets

The bank said: 'Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability'

Wales Online

Bank of England takes emergency action as UK enters 'financial crisis territory'

THE Bank of England has been forced to intervene in an attempt to avoid a full-blown financial crisis after Liz Truss’s government announced…

The National (Scotland)

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Bank of England launches emergency programme to prevent 'material risk' to UK financial stability

The Treasury has said the Government will continue to 'work closely' with the Bank of England after the move was announced

Manchester Evening News

Bank of England launches bond-buying scheme to stave off 'material risk to UK'

The bank is taking action to protect the economy

Wales Online

Bank launches emergency intervention in markets after Kwarteng mini-budget

Bank of England takes urgent steps to buy long-dated UK government bonds

The Guardian - UK

Bank of England's emergency move to calm market chaos by buying UK government bonds

The UK's central bank said it is trying to get a grip on the country's worsening financial situation by buying up bonds in an attempt to bring down soaring interest rates

Daily Mirror

Bank of England announces emergency action to try to calm markets

Central bank tries to stave off ‘material risk to UK financial stability’

The Independent UK

Falling Rupee: TOI says ‘it’s all right’, Express says ‘hawkish commentary roiled markets’

While the Indian rupee has continued to hit record lows, editorials by prominent English dailies have differed on the role played by the Reserve Bank of India.

Newslaundry

Bank of England intervenes in bond market - as it happened

Bank’s emergency move brings relief to bond market, but fails to stabilise UK currency

The Guardian - UK

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Asharq Al-Awsat

'I Need My Salary': Anger as Lebanese Banks Reopen

Depositors scuffled and long lines formed at Lebanese banks Monday as they partially reopened after a week-long closure following a slew of heists by customers desperate to access their money. But most banks remained shut, welcoming only a handful of depositors on appointment, and there was anger from those seeking…

Daily Mirror

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

Nottingham Post

Former Bulwell town centre bank put up for sale

It was closed due to a drop in footfall since the pandemic

Newcastle Herald

Why now is the best time for Greater Bank and Newcastle Permanent to merge

The two Hunter-based customer-owned financial institutions are focused on a merger's long-term benefits for the region.

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Newcastle Herald

Members have their say on Newcastle Perm - Greater Bank merger

Almost 600,000 Newcastle Permanent and Greater Bank members will start voting on Wednesday on a proposed historic merger of the institutions.

The Guardian - UK

Homeowners warned of ‘significant’ rise in UK interest rates

Bank of England’s chief economist speaks out after mini-budget, with financial markets expecting rates to reach up to 6%

Evening Standard

Bank of England warns of ‘significant’ rate rises amid sterling turmoil

The Chancellor sought to reassure investors as the Bank of England’s chief economist said they could not ignore the fall in sterling

The Guardian - UK

Kwarteng’s tax cuts will force ‘significant’ interest rate rises by Bank of England

Chief economist says mini-budget will increase inflationary pressure in remarks likely to further spook mortgage borrowers

The Independent UK

Bank of England chief economist says pound slump will ‘require significant response’

Huw Pill said there had been ‘significant market consequences’ following the chancellor’s announcement of tax-cuts

Chronicle Live

Newcastle city centre bank to close - one of an estimated 325 UK branch closures this year

As more customers shift to mobile and online banking, RBS has announced its Newcastle city centre branch will close in October - one of 12 around the country

Liverpool Echo

Bank issue warning after victims of 'friends and family' WhatsApp scam soar

The cost of living scam sees fraudsters pose as friends or family members

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