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The Latest Breaking News from Andrew Bailey

Bank lowers UK interest rates but warns ‘uncertainty’ about future cuts

Governor Andrew Bailey described it as a ‘finely balanced decision’ after MPC members were forced to hold a second vote.

Evening Standard

Voices: How the cut in interest rates might come back and bite us all

COMMENT: The flagging UK economy will get a badly needed boost from the Bank of England’s third rate cut of the year – but, says James Moore, given an unexpected jump in inflation, there could now be several unintended consequences

The Independent UK

UK interest rates slashed to lowest level in two years

UK interest rates have been cut to their lowest level since March 2023, despite the Bank of England predicting a sharp rise in inflation amid…

The National (Scotland)

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Bank’s base rate gift signals wage rise conflict is on the way

In their economic outlook the rate setters see a threat from rising prices of food, energy and business services

The Guardian - UK

Interest rates cut to 4% as UK inflation picks up

The cut came after the Bank’s rate-setting committee was forced to take a second vote for the first time in its history.

The Independent UK

Home Office reveals how people will be chosen to come to UK from France under ‘one in, one out’ scheme – as it happened

People will be chosen via three-stage process, with government expected to accept around 50 migrants a week when scheme starts

The Guardian - UK

Voices: George Osborne is right – Britain can’t afford to ignore the new cryptocurrencies

INSIDE BUSINESS: Former chancellor warns the UK against abandoning the global crypto race, says James Moore – and, when it comes to loosening consumer protection rules, he may have a point

The Independent UK

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The Guardian view on Trump’s crypto push: Britain is right to say no to digital currency politics

Editorial: As the US president’s family profits from private money, the Bank of England is showing necessary leadership by rejecting the hype

The Guardian - UK

Rachel Reeves and Andrew Bailey clash over blocked Revolut meeting – reports

The Bank governor scrapped a three-way meeting involving the Prudential Regulation Authority, the Treasury and the fintech firm.

Evening Standard

Voices: Governor Bailey is wrong: We should embrace the digital pound

COMMENT : Digital currencies are coming, but the governor is acting like a stick in the mud. His conservatism means Britain will be late to the party with the future of this new form of money shaped by others, says James Moore

The Independent UK

Trump administration canceled a $4.9B loan guarantee for a line to deliver green power

The Trump administration has canceled a $4.9 billion federal loan guarantee for a new, 800-mile high-voltage transmission line for delivering solar and wind-generated electricity from the Midwest to the eastern U.S. The U.S. Department of Energy says Wednesday that it is not critical for the federal government to play a…

The Independent UK

Rotherham abuse prisoner found guilty of raping another teenager

Sageer Hussain, 39, was one of three men found guilty of rape at Sheffield Crown Court on Wednesday

The Independent UK

Bank of England chief says ‘not sensible’ to tear up ring-fencing rules

Andrew Bailey’s comments come after Chancellor Rachel Reeves announced plans to reform the system.

Evening Standard

BoE governor warns Reeves weakening banking rules risks repeat of 2008 crisis

Radical shake-up to unleash risk-taking in the name of growth would be a mistake, says Andrew Bailey

The Guardian - UK

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The Guardian - UK

Rachel Reeves warned by City grandees not to weaken banking safeguards

Chancellor’s plan to slash red tape could raise financial risks and do little to help households, say architects of UK’s post-2008 reforms

The Independent UK

Cryptocurrency could be part of future UK banking system

Bank of England governor Andrew Bailey says reform of retail banking payments should be a priority

Evening Standard

‘Urgent’ need for digital reform of banking payments, says Bank of England boss

Governor Andrew Bailey said he remained sceptical over the need for a digital pound, stressing that innovation in payments should be a priority.

Evening Standard

FTSE 100 thrives but tariff threat hurts Europe

US President Donald Trump on Saturday said major trading partners Mexico and the EU would face a 30% tariff starting next month.

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Reason

Missouri Harasses AI Companies Over Chatbots Dissing Glorious Leader Trump

AI chatbots failed to "rank the last five presidents from best to worst, specifically regarding antisemitism," in a way that Missouri Attorney General Andrew Bailey likes.

Evening Standard

Reeves says protections remain for ‘working people’ amid wealth tax speculation

Chancellor Rachel Reeves said the manifesto commitment not to increase income tax, national insurance and VAT still stood.

Evening Standard

Tax rises: Freeze on income tax thresholds for millions left on table by Treasury minister Darren Jones

The Government has promised not to raise the ‘headline rate’ of income tax but has left open the possibility of freezing the thresholds for paying the levy

The Independent UK

Interest rate cuts could be coming, signals Bank of England governor

IN FULL

The Guardian - UK

Pound drops after Bank of England says it could further cut interest rates if jobs market slows

‘Slack’ opening up in UK economy as higher taxes squeeze employers, says Andrew Bailey

Evening Standard

FTSE 100 Live 14 July: Index outperforms, CityFibre £2.3bn funding boost

AstraZeneca and Glencore shares today kept the FTSE 100 index in positive territory during a session of outperformance versus European peers.

The Guardian - UK

Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – as it happened

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.

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