The Latest Breaking News from Bank of England

Predictions handed to chancellor expected to paint gloomy picture for UK economy amid sweeping tax cuts

The Bank of England recently unpacked £65 billion ($72 billion) in an emergency measure to avoid a crash in government bond prices. Without the intervention, the U.K.’s pension funds, which rely heavily on bond holdings, would have entered default. A larger economic crisis was averted.

Business confidence sinks to lowest level since depth of Covid pandemic as rising costs hit households and companies

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