The Latest Breaking News from Bank of England

People may have already built up significant arrears before help starts and eventual payments may not cover their actual costs, Sir Steve Webb warned.

Shares slid as much as 11.5 percent before recovering as investors panicked over bank’s ability for a turnaround.

Money Saving Expert website founder Martin Lewis urged home buyers to be aware with interest rates expected to rise up to six per cent next year – the highest in 30 years

Mr Kwarteng was forced to abandon his plan to give a massive tax cut to millionaires - but critics warned the damage has already been done after the Bank of England had to step in

More than 40% of mortgage products were pulled after the Chancellor’s Budget triggered a slump in the pound and fears of interest rate hikes. The average two-year fixed mortgage rate is now close to 6%

The chancellor will accelerate the publication of his medium-term fiscal plan later this month, according to reports

Tactless jokes and half-arsed platitudes made up chancellor’s vapid Tory conference speech

The iShares MSCI United Kingdom ETF (NYSE: EWU) and the SPDR S&P 500 ETF Trust (NYSE: SPY) both traded higher by more than 2% each on Monday after the U.K.

Sir Charlie Bean, said the chancellor’s U-turn will not be enough to calm down the financial markets

In 1981 Thatcher took the drastic but successful step of increasing taxes by 2% of GDP to tackle interest rates and inflation. But Truss has just done a reverse-Thatcher, says Oliver Hartwich

From a strictly fiscal perspective, the government’s decision to U-turn on the cut to the 45p top rate of income tax is essentially meaningless. What was a £45 billion tax-cutting budget that sunk the pound, set off gilts and required an emergency intervention by the Bank of England is now…