The Latest Breaking News from Bank of England

The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.

Could the UK adopt the jumbo rate hikes expected in the US this week?

Advice will help you decide whether to make the switch and identify the best overall fit for you

With further rate rises expected, switching could save some people thousands of pounds over a relatively short period of time, according to research.

How to avoid the queues

The Bank of England warned of "waiting times in excess of an hour"

Paper £20 and £50 notes will no longer be legal tender after this month ends - but you will still be able to swap out your old notes

The Monetary Policy Committee is expected to increase rates by 0.75 percentage points

Specific types of old bank notes become redundant from September 30

The changes include an update to Universal Credit and a banknote warning

Just as there is no question that climate change brings enormous economic and financial risks, there should be no question that central banks can and must play a role in addressing this mother of all market failures. As central banks in the United States and Europe tighten credit to regain…