The Latest Breaking News from Andrew Bailey

Picture the scene: Threadneedle Street, in the heart of the Square Mile, a bowler hat’s throw away from several of City Spy’s best-capitalised pubs and bars.  

Halifax says no signs of spike in ‘forced sales’; eurozone heading for recession while UK avoids recession, surveys suggest

The Bank of England recently released its Financial Stability Report, spotlighting the resilience of UK households and businesses in the face of escalating interest rates.

AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.

As the use of artificial intelligence (AI) becomes more widespread, the Bank of England's financial policy committee has grown increasingly concerned about the systemic threats posed by the broader adoption of AI.

The Bank of England says it will make an assessment next year about the risks posed by artificial intelligence and machine learning

The OECD slashes its economic growth forecast for UK, while increasing expected inflation rate

Cheerful news: Andrew Bailey, the Bank of England governor, thinks the economic outlook for the year ahead is “worst I have ever seen” — a challenge of such severity that it should be the main preoccupation of both the Government and its possible Labour heirs. Instead, fizzing anxiety at Westminster…

The governor of the Bank of England offered a scathing assessment of Britain’s future, saying interest rates will remain at 15-year highs and the rate at which inflation is falling will slow markedly this month