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The Latest Breaking News from Bank of England

UK recession risk gathers pace as economy shrinks in March

London (AFP) - Britain's economy shrank in March on fallout from soaring inflation, increasing the prospect of the country falling into recession.

AFP

A UK recession seems certain – the question is how deep will it be

Analysis: Rising prices, a tight labour market and a falling pound – the economy ticks every warning box

The Guardian - UK

Tesco, Asda, Aldi, M&S and Lidl shoppers who pay with cash issued urgent warning

Certain paper notes are due to become void and will be rejected in stores.

Daily Record

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Martin Lewis issues urgent advice to homeowners to save thousands on their mortgage

The consumer champion issued the warning as the Bank of England raised interest rates

Liverpool Echo

UK recession fears grow as rising inflation set to leave more Scots struggling

Tory ministers are under mounting to pressure to get to grips with the cost of living crisis amid predictions the UK economy is heading for recession.

Daily Record

UK economic growth slows in first quarter

London (AFP) - Britain's economy grew at a slower pace in the first quarter compared with the final three months of last year as the country battled soaring inflation, official data showed Thursday.

AFP

UK economy shrank in March as households rocked by soaring food and living costs

Prices are rising at their fastest rate for 30 years, driven by soaring fuel, food and energy costs - and the worst is yet to come, the Bank of England has warned

Daily Mirror

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Do not use Ukraine war to defer climate goals, warns Mark Carney

UN climate envoy says world cannot afford to derail progress because of energy crisis linked to invasion

The Guardian - UK

Long-awaited Queen's Speech draws criticism from MP and charities

Renfrewshire SNP man Gavin Newlands brands blueprint for government as a "lost opportunity"

Daily Record

Martin Lewis warns millions of homeowners to act now to knock £1,000 off their bills

The Bank of England has put the base rate up again, which means it's time to take action. Those on SVTs have a month to shop around, while others on soon-to-expire fixed deals may want to start locking in a new tariff now

Daily Mirror

Urgent warning issued to shoppers paying with cash at Tesco, Asda, Aldi, M&S and Lidl

They have been given a six-month warning ahead of the deadline for using certain paper notes in stores

Liverpool Echo

Further 250,000 UK households face destitution in 2023, warns NIESR

Thinktank calls for urgent £25-a-week UC uplift and £250 one-off payment to cushion poorest from inflation

The Guardian - UK

Blast from the past as currency speculators circle weakened pound

Analysis: Experts warn that sharp losses for sterling could drive up cost of imports and invite attacks on the currency

The Guardian - UK

Queen' Speech: Seven changes that will affect you and your money

More powers for renters, lower inflation and quicker benefits for the terminally ill were among the changes announced

Chronicle Live

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Evening Standard

Do short term mortgages leave us more at risk of recession?

City Comment: A nation of gamblers in danger of losing a bet

Daily Mirror

Queen's Speech: 7 changes that affect your money including more rights for renters

More powers for renters, lower inflation and quicker benefits for the terminally ill were among the changes announced in this year's Queen's Speech, but there is no new help for the cost of living crisis

Benzinga

Market Turmoil: What Does The Future Have In Store For UK Businesses Amid Rising Interest Rates And Soaring Inflation?

By Neil Debenham To say 2022 has been a tumultuous year so far would be nothing short of an understatement. The cost of living is soaring, inflation is at its highest level in 30 years and the energy price cap rose by 54% at the start of April.

Benzinga

That '70s Show: Wall Street's Most Accurate Analyst Sees A '70s-Style Oil Spike And Tech Wreck. How We're Positioned For It

The 1970s Bear Market Analog On Saturday, ZeroHedge reported that Wall Street's most accurate analyst, Bank of America's chief investment strategist Michael Hartnett, sees a strong parallel between our current market environment and the bear market that occurred during the 1970s:

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The Guardian - UK

High UK inflation could last for ‘years rather than months’, warns economist

Expert sounds warning as Bank of England economist says inflation ‘uncomfortably high’ amid cost of living crisis

Evening Standard

We’re facing a financial circle of doom as pound falls and inflation rises

Sterling’s recent tumble is just the latest in a saga of painful episodes for successive UK governments. During the post-war era of “fixed but adjustable” exchange rates, British politicians were regularly faced with the terrifying risk of a currency devaluation. Poor underlying competitiveness left successive administrations facing severe trade deficits.…

Evening Standard

City comment: Bank of England soothsayers face a lose-lose situation

Economic forecasting is a mug’s game.

Evening Standard

Ex-Bank of England chief economist Andy Haldane warns inflation here ‘for years’ as business calls for emergency budget

The British Chamber of Commerce want an immediate VAT cut and a reversal of recent National Insurance rises in an emergency snap budget

The Guardian - UK

Stocks, oil and bitcoin hit by recession worries – as it happened

Worries over global growth hit stocks and metals prices, and the pound falls again

Wales Online

Jacob Rees-Mogg issues warning over cost of living crisis

The senior minister urged caution around increased public spending with inflation likely to be pushed even higher as a result

Daily Mirror

More than three in five homeowners say they were 'winging it' when they bought

A study of 2,000 homeowners found 61 per cent were underprepared due to a lack of knowledge about the process

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