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The Latest Breaking News from Andrew Bailey

UK inflation surges to new 40-year high of 9.4%

Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis

The Independent UK

UK inflation rise is worrying but Bank of England must not overreact

Analysis: Figure is being generated by factors outside Britain, and households and firms can do without burden of higher interest rates

The Guardian - UK

Half-point interest rate rise ‘on the table’ next month, says Bank of England chief

Andrew Bailey also announces plan to sell off some of Bank’s bonds stock to reinforce effect of higher rates in tackling inflation

The Guardian - UK

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Outlook for economy has ‘deteriorated markedly’ due to soaring prices, Bank of England warns

Households and lenders can weather storm caused by energy price spike, says Bank

The Independent UK

Bank of England to test the UK banking system on ‘deep’ recession

Financial institutions must set aside more money to absorb coming economic shocks

Evening Standard

Parents dipping into children’s savings to pay soaring bills, poll finds

Britons are lifting around £8.5m a day from their children as costs continue to soar, survey found

The Independent UK

Barclays gives 35,000 staff a £1200 pay boost to help with cost of living

Barclays is to give 35,000 UK staff a £1,200 pay rise in August to help them cope with the soaring cost of living.

Evening Standard

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Soaring inflation to hit Britain harder than any other major economy

To address inflation, the Bank of England warns it may need the option of half-point interest rate rises

Wales Online

UK faces bigger and faster recession than other European countries, Bank of England warns

Andrew Bailey said the UK economy had reached a ‘turning point’

The Independent UK

UK will face worse inflation than other major economies, says Bank governor

Andrew Bailey said inflation would persist for longer than previously expected as petrol prices soar

The Guardian - UK

Central bank policymakers should not assume reputations will recover

As inflation soars, the Fed, ECB, Bank of England and others are more regularly challenged than in the past

The Guardian - UK

With team effort, Giants accomplish something vs. Pirates they hadn’t done since 2017

PITTSBURGH — The Giants’ 7-5 win here Saturday afternoon, securing their first series win against the Pirates since 2017, was the definition of a team effort.

Tribune News Service

Bank of England ready to take ‘forceful’ action on inflation, says chief economist

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

The Guardian - UK

No tax cuts in England before inflation is tamed, ministers suggest

Rishi Sunak and Michael Gove appeared to indicate that fellow Conservative MPs pushing for tax cuts would have to wait as such measures could fuel runaway inflation

Wales Online

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The Guardian - UK

Why are central banks pushing to raise interest rates?

Banks are raising rates to bring down inflation but there is a risk to economic growth

The Independent UK

Bank of England poised to hike interest rates to 1.25% in battle against inflation

Base rate of interest currently stands at 1 per cent - its highest point in 13 years

The Guardian - UK

Bank of England says inflation will hit 11% after raising interest rates to 13-year high – as it happened

UK central bank has raised interest rates to 1.25%, warned inflation will exceed 11% in autumn, and cut growth forecast for this quarter

Evening Standard

A recession is worse than inflation -- why the Bank is getting this all wrong

City Voices: Former Bank Governor Mervyn King scores nought out of ten

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Evening Standard

Pay crunch gives Bank of England tough call on interest rates

Bank to put rates up on Thursday, City expects

The National (Scotland)

Will the cost of living crisis spark a revival in the trade union movement?

BANK of England governor Andrew Bailey caused a stir when he told workers in February that he wanted to see them showing “quite clear restraint”…

The Guardian - UK

From deep tech to high finance, why Leeds is luring companies north

The city’s pool of skilled workers is attracting startups and big name companies alike

Evening Standard

How war in Ukraine has sparked an ‘unprecedented’ global food crisis

Scattered grain sits inside a warehouse damaged by Russian attacks in Cherkaska Lozova, outskirts of Kharkiv

Tribune News Service

In homer-happy Philadelphia, SF Giants don’t let Logan Webb’s brilliance go to waste

PHILADELPHIA — Giants pitching coach Andrew Bailey, effervescent as always, walked up to Logan Webb in the clubhouse Monday afternoon and proclaimed, “It’s a beautiful day out there.”

The Guardian - UK

This age of inflation reveals the sickness ailing Britain’s economy: rentier capitalism

Profits have become all-but guaranteed for wealthy elites, says economist William Davies

Tribune News Service

More details, fallout emerge from Tommy Pham’s slap of Giants’ Joc Pederson

CINCINNATI — More details and fallout of Tommy Pham’s slap heard ’round the baseball world emerged Saturday in the lead up to the Giants’ second game here at Great American Ballpark.

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