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The Latest Breaking News from Andrew Bailey

Narrow Bank of England vote puts end of interest rate-cutting cycle in sight

Another reduction expected next year but monetary policy committee is deeply divided over inflation prospects

The Guardian - UK

Bank of England cuts interest rates to near three-year low

The Bank’s Monetary Policy Committee voted to reduce rates from 4% to 3.75%.

Evening Standard

More UK interest rate cuts expected in 2026 after Bank of England lowers borrowing costs to near three-year low – as it happened

Rolling coverage of the latest economic and financial news, as Bank of England governor Andrew Bailey switches vote – allowing rate cut today

The Guardian - UK

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China sues after Missouri seeks to collect on $25 billion court judgement, prosecutor says

Missouri’s top prosecutor says China is suing after the state pressed federal officials for help collecting on a roughly $25 billion court judgment related to the COVID-19 pandemic

The Independent UK

Young people bearing brunt of UK jobs downturn, thinktank warns

Resolution Foundation report comes in week when data is expected to show October unemployment rise

The Guardian - UK

Bank of England lacked access to data to help with Covid-19 response – governor

Andrew Bailey told the UK Covid-19 Inquiry that policymakers would have benefited from having easier sight of data, such as universal credit.

Evening Standard

Bank of England cutting jobs as part of overhaul after critical Bernanke review

Bank under budget pressure as it responds to former Fed chair’s report into slow response to surging inflation

The Guardian - UK

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Bank of England to stress test private credit firms as concerns grow

The central bank said it has launched a new exercise to stress-test the resilience of the market.

The Independent UK

OBR chief’s exit may ease pressure on Rachel Reeves but the battle isn’t over

With the row deepening over budget leaks, who is most likely to replace Richard Hughes in the increasingly thankless role of chair?

The Guardian - UK

Kash Patel Suffers Fresh Washington Embarrassment Amidst Trump FBI Ouster Rumours

FBI Director Kash Patel faces scrutiny after a briefing blunder regarding a DC shooting suspect, coinciding with reports that Donald Trump considers replacing him with Andrew Bailey.

International Business Times UK

Is Trump firing FBI director Kash Patel? Karoline Leavitt responds to rumors

Several reports are circulating online about the White House considering the firing of FBI Director Kash Patel. But is there any truth to the claim? Press Secretary Karoline Leavitt has spoken up.

The Mary Sue

Why interest rates are likely to be cut after the Budget

The Bank of England opted to keep rates at 4 per cent in early November but next month will be a different proposition

The Independent UK

Fall in UK inflation looks like turning point that heralds interest rate cut

Rachel Reeves hints there will be budget measures to push down prices and Bank of England is likely to act

The Guardian - UK

December Rate Cut Looms as Jobless Rate Returns to COVID 19 Level

The UK's rising unemployment rate and stubborn inflation suggest the Bank of England may cut interest rates in December, amid economic uncertainty.

International Business Times UK

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International Business Times UK

AI Layoffs: US Market's Worst in 20 Years – Could the UK Be Next?

US tech layoffs hit a 20-year high, raising fears of a bubble bursting that could impact the UK economy. Experts warn of potential spillovers and market risks.

The Guardian - UK

Stock markets drop amid jitters over US economy and tech valuations – business live

The Nasdaq is poised for its worst weekly performance since March.

Evening Standard

FTSE 100 slips amid Bank of England rate hold and fresh US falls

The FTSE 100 Index closed down 41.30 points at 9,735.78.

Evening Standard

Interest rates: Why did the Bank stick to 4% and what does it mean?

Here the PA news agency looks at what the decision means and what the Bank expects to happen to the economy.

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The Guardian - UK

Bank of England’s decision to keep interest rates at 4% is not all doom and gloom

Close-run vote raises hopes of rates cut in December, with inflation said to have peaked at 3.8%

Euronews

BoE keeps rates steady at 4% as economy shows signs of slowing

The UK's annual rate of consumer price inflation is standing at 3.8%, nearly double the bank’s 2% target.

The Guardian - UK

Bank of England says UK inflation has peaked after leaving rates at 4%; US job cuts jump as firms turn to AI – as it happened

Economists predict UK rate cuts in December, after narrow vote to hold Bank Rate at 4% today

Evening Standard

‘Shadow banking’ could lead us into an apocalypse like 2008

Alarm bells are ringing about the private credit market and ‘cockroaches’ in the system — the time to act is now, says Chris Blackhurst

Evening Standard

Bank of England must better address climate risk to tackle inflation, WWF says

The central bank is being urged to take a series of actions to better respond to environmental risks.

The Guardian - UK

Nigel Farage seeks influence over Bank of England in same vein as Trump and US Federal Reserve

Reform UK leader suggests he would replace Bank of England governor if he became prime minister

The Guardian - UK

Barclays can afford Tricolor loss but risks remain in the private credit market

Risky lending in an opaque, complex and leveraged part of the financial world is ringing alarm bells

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