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The Latest Breaking News from Andrew Bailey

The Body Shop UK falls into administration; UK wage growth and US inflation hit rate cut hopes – as it happened

The Body Shop has collapsed into administration in the UK, less than three months after it was taken over by a private equity company

The Guardian - UK

The Body Shop set to appoint administrators; UK hit by ‘significant long-run cost of Brexit’ – as it happened

Goldman Sachs ‘Doppelgänger’ analysis suggests UK real GDP has unperformed by 5% since 2016 vote, while Body Shop’s owners have filed the intention to appoint administrators.

The Guardian - UK

Joe Biden declares America’s economy ‘is the strongest in the world’ after jobs report smashes forecasts – as it happened

Rolling coverage of the latest economic and financial news, as US adds 353,000 new jobs in January

The Guardian - UK

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Bank Of England Freezes Rate As Inflation Stays High

The Bank of England froze its key interest rate Thursday for a fourth meeting in a row, matching US Federal Reserve policy, as high inflation prevents cuts to borrowing costs.

International Business Times

UK interest rates have peaked, the next move is down … but not yet

Bank of England’s rate-setting panel is split three ways – to hike, cut or hold –but analysts are now pencilling in a cut for late spring

The Guardian - UK

Inflation takes centre stage as City braces for clues on Bank of England interest rate cut

Shock acceleration in cost of living increases could delay the start of interest rate cuts by the Bank of England

Evening Standard

Bank of England Faces Pressure to Adjust Interest Rates as Inflation Forecasts Take a Surprise Turn

Three prominent forecasters – Oxford Economics, Investec, and Deutsche Bank – have issued updates indicating a potential halving of the inflation rate to two per cent by April, forcing the Bank of England (BoE) to reconsider its timeline for the first interest rate cut.

International Business Times UK

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Bank of England Contemplates Earlier Interest Rate Cut Amidst Forecasts of Decreasing Inflation

Three prominent forecasters, including Oxford Economics consultancy, Investec, and Deutsche Bank, have revised their outlook for inflation in 2024.

International Business Times UK

Bank of England may cut interest rate sooner after surprise inflation forecast

Forecasters at three leading institutions suggest inflation rate will halve to 2% by April

The Guardian - UK

Bank of England boss: 'Inefficient' Bitcoin ‘not taking off’ as a financial service

Andrew Bailey also warned that there is still a risk of 'global shocks' hitting the UK economy

Evening Standard

Watch live: Bank of England’s Andrew Bailey speaks to lawmakers about financial stability

Watch live as the Bank of England Governor Andrew Bailey, and other members of the BoE’s Financial Policy Committee answer questions from the House of Commons’ Treasury Committee on 10 January.

The Independent UK

Impeachment hearings for DHS Secretary Mayorkas amid border crisis

DHS Secretary Mayorkas faces impeachment hearing over border crisis while House Oversight Committee considers contempt resolution for Hunter Biden. Stay tu...

Top News

Bank of England governor Andrew Bailey to be grilled on interest rate hikes' threat to UK financial stability

He and other members of the bank’s Financial Policy Committee will face questions from the Commons Treasury Committee

Evening Standard

Recession warning puts another Sunak pledge at risk

The Prime Minister looks in danger of only meeting one of his five pledges for 2023.

The Independent UK

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Evening Standard

Bank of England governor Andrew Bailey's early Christmas present to the City

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.

The Guardian - UK

UK house prices to ‘fall up to 4%’ in 2024; business activity picks up in December – as it happened

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

The National (Scotland)

Bank of England keeps interest rates at 15-year-high

The Bank of England has held interest rates at 5.25 per cent for the third time in a row and indicated that cuts are unlikely in the coming…

The Independent UK

Bank of England holds interest rates at 15-year-high as economy flirts with recession

The Bank of England has held interest rates at 5.25 per cent for the third consecutive time

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Evening Standard

Andrew Bailey is wrong. The Bank of England must cut interest rates now

City Voices: If the Bank wants to avoid a long and damaging recession then it needs to act fast

The Guardian - UK

UK employers limit hiring permanent staff amid economic stresses

Vacancies declining as growth falters, recruiters’ body tells Bank of England

International Business Times UK

Bank of England's Financial Stability Report Highlights Resilience Amid Rising Interest Rates

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.

International Business Times UK

Bank of England To Assess Risks AI Poses To UK Financial Stability

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.

International Business Times

Bank Of England To Review Systemic Risks Posed By AI

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 Independent UK

Bank of England will review the risks that AI poses to UK financial stability

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

The Independent UK

Blow for Rishi Sunak as UK to have second-slowest growth in G7

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

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