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The Latest Breaking News from Bank of England

How to exchange old banknotes before they expire as warning issued to shoppers

From September, shops like Tesco, Asda, Aldi and M&S and Morrisons will no longer accept paper banknotes.

Daily Record

Warning issued to anyone who still uses cash to pay in ASDA, Tesco, Home Bargains, Aldi, Morrisons, M&S and Lidl

Shoppers who use £20 or £50 notes have been given a six month warning

Manchester Evening News

Bank of England warning to anyone who uses £20 or £50 notes

Time is running out for cash users to spend their notes

Liverpool Echo

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Warning to anybody who still uses paper £20 and £50 notes as deadline approaches

The notes are being replaced with the new polymer £20 notes featuring J.M.W. Turner, and polymer £50 notes featuring Alan Turing, which will be even harder to counterfeit

Daily Mirror

Time running out to spend paper £20 and £50 notes as they cease to be legal tender

The Bank of England will be withdrawing legal tender status of the paper £20 and £50 notes after September 30.

Chronicle Live

Paper £20 and £50 notes to become void in matter of months

Cash users will have just six months before the banknotes will no longer be valid

Bristol Post

Halifax tempts savers with special £1.35m prize draw

June promotion will include 10 top prizes of £100,000 rather than the usual three

The Guardian - UK

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Cost of living crisis dragging country into recession - and seven steps to avoid it

When asked by YouGov about their economic expectations for the coming year, most people reported that their hopes had never been lower. The country is facing an economic crisis

Daily Mirror

IMF warns Russia-Ukraine war will have ‘severe economic consequences’ for Europe – as it happened

IMF slashes growth forecasts for Europe, as pound falls 1.1% to 18-month low after sharp retail sales decline and April PMIs point to much weaker speed of recovery across UK economy

The Guardian - UK

Bank of England policymaker says rates could rise again in May

Catherine Mann argues that soaring energy and food prices will persist even if consumer demand weakens

The Guardian - UK

Bank angers City with 9% leap in fees for crypto

THE Bank of England is asking City firms for a 9% rise in fees this year so it can pay to look into new risks such as cryptocurrencies.

Evening Standard

Prince Edward and Sophie Wessex cancel part of Caribbean royal tour as country removed from itinerary

The royal couple had been due to visit Grenada as part of the trip

The Independent UK

Elon Musk secures $46.5bn as he prepares hostile bid for Twitter – as it happened

Tesla boss could take his takeover offer directly to shareholders, bypassing the Twitter board, as World Bank chief warns of ‘human catastrophe’ from food crisis

The Guardian - UK

G20 members condemn Russia's war in Ukraine, after Yellen and others stage walkout

Top officials from Britain, the United States and Canada walked out on Russia's representatives at a Group of 20 meeting on Wednesday and many members spoke to condemn Moscow's war in Ukraine, exposing deep divisions in the bloc of major economies.

Reuters

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Reuters

UK, U.S. and Canada left G20 meeting when Russia spoke, UK says

Britain's delegation to a meeting of top Group of 20 finance officials in Washington, including Bank of England Governor Andrew Bailey, walked out in protest at Russia's participation, a British finance ministry spokesperson said on Wednesday.

The Guardian - UK

BoE asks financial firms for £24m more to keep track of risks from crypto assets

Levy increase needed to hire 100 extra staff in response to ‘new policy responsibilities’, says regulator body

The Independent UK

UK economic growth will slow to weakest in G7, warns IMF

The projected growth for Britain next year is lower than for any other major advanced economy

The Independent UK

Biggest jump in average cash Isa rates in a decade

Stronger competition amid recent Bank of England base rate rises are elevating interest rates, Moneyfacts.co.uk said.

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The Guardian - UK

Tesco Mobile refuses to believe I didn’t receive my phone

An ex-detective and Bank of England employee cannot seem to convince the firm his phone failed to be delivered

The Guardian - UK

Looking for a mortgage? It’s time to get a move on

As inflation takes its toll, interest rates are rising and the best offers are drying up

The Guardian - UK

Bank of England owned 599 slaves in 1770s, new exhibition reveals

Research commissioned by Bank in the wake of Black Lives Matter uncovers grim history of colonial Grenada

Daily Record

Banknote warning as money experts explain how to spot a fake as millions to expire

Today, most banknotes are made of Polymer, a material tougher to counterfeit than paper - but there is still a chance that you could be handed fake change.

The Guardian - UK

High street banks warn of rise in UK customers defaulting on loans

Lenders expect wave of defaults this spring as cost of living soars, Bank of England survey finds

The Independent UK

Lenders expect rise in loan defaults amid cost-of-living crisis

The Bank of England also said lenders have reported an increase in credit card lending for the latest quarter.

Daily Record

Scots football club bans cash after fans flood stadium with fake notes

Bank of England £5 notes have been banned at Ayr United's Somerset Park since the visit of rivals Kilmarnock last month.

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