The Latest Breaking News from Bank of England

The Bank of England has written to the Government explaining why it intervened after market instability

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

Chancellor’s plan could lead to a ‘significant increase in fiscal deficits over the medium term’, ratings agency warms

Borrowing costs at their highest level in 14 years

The stability of Britain’s entire financial system was on line after ‘Kami-Kwasi’ mini-budget

UK central bank says failure to act could have wiped out the value of a large number of funds held by pension companies

Threat to pension funds could have triggered ‘widespread financial instability’

Lack of independent forecasts at mini-budget and clash with Bank of England’s inflation strategy prompts cut

On a recent Monday, the Fed called an emergency meeting. The discussion topics were not made known. Could it possibly be about turmoil in the UK bond market and the financial troubles of large investment banks? At this fragile time, the world cannot afford another Lehman Brothers-type disaster.

By sticking to its guns the firm has defended the excellent principle that bidders should do what they’ve agreed to do

Sterling dipped by 1.4% to 1.1312 dollars shortly after Liz Truss said that the Government was making ‘difficult but necessary’ choices