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The Latest Breaking News from Andrew Bailey

Britain’s politicians need to worry less about the bond markets – and more about the Bank of England

A new model of central banking would weaken the power of bond vigilantes – and help progressive politicians pay for transformative change, says academic Daniela Gabor

The Guardian - UK

Andy Burnham latest: Vote for me is a vote to change Labour, Manchester mayor tells Makerfield as he unveils slogan

Recent polling has shown that Mr Burnham would comfortably win among Labour members in a leadership contest

The Independent UK

We may have cut interest rates twice this year if not for Iran war – Bank chief

Bank of England governor Andrew Bailey told MPs on the Treasury Committee that a rate cut had been taken off the table following the conflict.

Evening Standard

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Bank of England governor says food price freezes are ‘unsustainable’

The Iran conflict has been the ‘dominating change in the landscape’ for the economy, Andrew Bailey said

The Independent UK

Monday briefing: Is the bond market making Britain ungovernable?

In today’s newsletter: The fate of Liz Truss is a warning to any PM thinking of implementing radical economic reform. But does the need to appease the market mean real change is always out of reach?

The Guardian - UK

FTSE 100 rallies as oil eases and Bank of England holds rates

The FTSE 100 closed up 165.71 points, or 1.6%, at 10,378.82.

Evening Standard

Bank signals interest rates could rise as Iran war to push up cost of living

The new outlook comes as interest rates were held at 3.75% on Thursday.

Evening Standard

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Central bank bosses enlist for war game to gauge threat of Lehman-style bust

Finance chiefs to join exercise in Washington designed to assess how they would handle collapse of significant bank

The Guardian - UK

Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool

Release of new Claude model, so far limited to US firms, will expand to British institutions in coming days

The Guardian - UK

Stocks buoyed by Tesco and welcome GDP surprise

The FTSE 100 closed up 30.41 points, 0.3%, at 10,589.99.

Evening Standard

Bank of England chief warns of ‘difficult judgements’ around changes to interest rates

Rates sit at 3.75% but a vote is incoming at the end of April

The Independent UK

Bank will not rush into moving rates despite ‘big energy shock’, says Bailey

The Bank of England boss said the energy shock will push up prices across the world.

Evening Standard

Middle East conflict sparked major supply shock, says Bank of England boss

Andrew Bailey made his comments as the UK was given a gloomy economic outlook by the International Monetary Fund.

Evening Standard

Head of IMF says Iran war will permanently scar global economy even if peace is reached

Kristalina Georgieva says even ‘most hopeful scenario’ will lead to growth downgrade and cause permanent hit to living standards

The Guardian - UK

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The Guardian - UK

Blue Owl Capital limits withdrawals after investors try to redeem $5.4bn

Private credit investment firm’s move is latest sign of crumbling confidence in unregulated lending market

Evening Standard

FTSE 100 soars as Middle East peace hopes grow

The US and Iran have both made some positive noises, prompting markets to rise.

Evening Standard

Prime Minister to chair Cobra meeting on economic hit of Iran war

Sir Keir Starmer told business leaders on Monday that it must be a ‘joint effort’ to tackle the impact of the war.

The Guardian - UK

Starmer says he is ‘unapologetic’ about his focus on national interest when asked how he deals with ‘rude’ Trump – as it happened

PM tells MPs ‘a lot of what is said or done is undoubtedly said or done to put pressure on me’

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The Independent UK

Politics latest: Starmer warns there may not be ‘quick and early end’ to US-Iran war ahead of Cobra meeting

Prime minister warned his team not to fall into ‘false comfort’ of thinking as Middle East conflict could be lengthy

Evening Standard

Cooper warns Tehran against targeting UK interests

Iran has said allowing the US to use UK bases is ‘participation in aggression’.

Evening Standard

Iran tells Cooper UK letting US use bases is ‘participation in aggression’

Abbas Araghchi criticised the ‘negative and biased approach of Britain’.

The Independent UK

Starmer acknowledges ‘pressure on families’ as costs rise amid Iran war

The Iran war has sent oil and gas prices soaring, putting further pressure on already-stretched household budgets in the UK

Evening Standard

Interest rate cuts not on the horizon, Bank of England governor says

The Bank left interest rates unchanged at 3.75% in a unanimous vote among all nine members of its Monetary Policy Committee on Thursday.

Evening Standard

Bank of England holds interest rates but hints at possible hikes

The Bank left rates unchanged in a unanimous vote among all nine members of its Monetary Policy Committee (MPC).

Euronews

Bank of England holds rate at 3.75% amid Iran war inflation fears

The Bank of England has held its main interest rate at 3.75% in the wake of rising oil and gas prices following the start of the Iran war.

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