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The Latest Breaking News from Bank of England

Bank of England boss asks firms to show restraint when raising prices

Andrew Bailey makes request after his call for employees to not demand big pay rises comes under criticism

The Guardian - UK

Bank of England boss on £575k wage defends comments that staff shouldn't get pay rises

Andrew Bailey, who earns more than £575,000 a year, came under fire recently for suggesting workers should not ask for big pay rises to help control soaring inflation

Daily Mirror

Bank of England boss on £575,000 a year defends controversial ‘wage restraint’ comments

Andrew Bailey tells MPs that need for restraint on pay rises applies to everyone from bankers to care home workers

The Independent UK

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Bank of England boss tells banks to use ‘restraint’ on bonuses

Andrew Bailey defended recent comments urging workers not to ask for big pay rises, saying the poorest will be hit hardest by inflation.

The Independent UK

Bank of England chief urges banks to show restraint on bonuses; global stocks recover – as it happened

Bank of England’s Bailey says sanctions pose no risk to UK’s financial sector, as foreign secretary talks about Britain’s plans to stop Russia selling sovereign debt in London

The Guardian - UK

Four-fifths of UK manufacturers expect price rises, says CBI

Survey highlights cost inflation as Bank of England’s Dave Ramsden predicts more interest rate rises

The Guardian - UK

Governor of the Bank of England visits Somerset dairy farm

Andrew Bailey was given a tour of Radstock Co-operative Society's farm near Frome on a recent trip to the county

Birmingham Post

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Oil prices hit seven-year highs close to $100 after Russia moves troops into Ukraine – as it happened

Germany pulls plug on Nord Stream 2 pipeline, as UK and European shares see-saw and rouble sinks to two-year low

The Guardian - UK

UK business activity strongest since June, led by travel and leisure; prices surge – as it happened

Eurozone growth also booms, as European stock markets are mixed amid rising tensions on the Ukraine-Russia border

The Guardian - UK

City comment: The Bank of England has been wrong-footed by the vibe shift in the economy

American media twitter has been consumed by a seemingly ridiculous article from a New Yorkmagazine spin-off asking: “A Vibe Shift Is Coming. Will any of us survive it?”

Evening Standard

What is inflation? What new 7% UK rate increase on everyday goods means for you

Prices are rising faster than at any time in the past 30 years and wages are failing to keep up. But what is inflation and what does it mean for you? We explain

Daily Mirror

Starmer urges action to tackle rising cost of living

The Labour leader said it is ‘very difficult’ to tell people not to ask for a pay rise, following Bank of England Governor Andrew Bailey’s comments.

The Independent UK

FTSE 100 Live: Inflation hits 30-year high of 5.5%, more pressure on Bank of England, Indivior jumps

The annual rate of inflation has hit a fresh 30-year high of 5.5%, with higher clothing and footwear prices adding to the cost of living squeeze facing UK households.

Evening Standard

Inflation hits 30 year high as cost of living crisis grows

INFLATION hit a fresh 30 year high in January, putting more pressure on family finances and on the Bank of England.

Evening Standard

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The Guardian - UK

Workers entitled to ask for pay rise, says Keir Starmer

Exclusive: Labour leader’s comments contrast those of Bank of England governor, who called for ‘restraint in pay bargaining’

Evening Standard

Inflation tomorrow: the misery index keeps rising

The Bank of England, and indeed the public, are in a bind. Inflation seems to be running away from the central bankers, who some say just didn’t move quickly enough to raise interest rates.

The Guardian - UK

UK pay growth lags behind inflation; company insolvencies rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Credibility challenge: Bank of England walks a tightrope on interest rates

Analysis: some want Bank to play catchup on rates; others say it risks engineering conditions for a recession

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The Guardian - UK

Central banks should be cautious in calibrating a response to inflation

They have the chance to be the hero of the hour, but if they get it wrong, we’ll be back in recession

The Independent UK

UK economy delivers record growth in 2021 amid Covid rebound

The growth, which exceeded projections by the Bank of England, nevertheless came after a 9.4% slump in the economy in 2020.

The Independent UK

New buyer demand in Scotland on the up, according to survey

The results, however, were reported prior to the Bank of England’s decision to increase interest rates – a move which could put some off from buying.

The Guardian - UK

Bank of England boss urged to shadow care worker for a day amid low pay row

GMB says Andrew Bailey should gain first-hand experience after he said workers should not ask for big salary rises

The Guardian - UK

Cost of living crisis hits household confidence; UK trade with Germany falls; FTSE 100 at two-year high – as it happened

Rolling coverage of the latest economic and financial news

The Conversation

Cost of living crisis: historical evidence suggests voters could quickly turn against Tories

After years of being relatively low, inflation is now re-emerging with a vengeance. The Bank of England expects it to rise to more than 7% by the spring of this year. Shortages of both workers and goods in the economy mean prices are rising, and the spiralling cost of energy…

The Guardian - UK

The Bank of England has only one solution to rising inflation – make workers pay

Andrew Bailey’s stance on pay restraint shows how out of touch the governor is, says Daniela Gabor of UWE Bristol

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