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The Latest Breaking News from Bank of England

Asian shares advance as oil prices retreat

RECAP: Asian equities mostly rose yesterday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and bank interest-rate hikes. But while global markets have enjoyed a broadly positive week, recession worries and Chinese military drills around Taiwan have traders' nerves on edge.

Bangkok Post

Truss warns against ‘talking UK into a recession’ in leadership hustings

Tory favourite for No 10 says taxes should be kept low as rival Sunak says his priority will be to tackle inflation

The Guardian - UK

Tories can ‘kiss goodbye’ to next election if they fail to control inflation, says Sunak

Former chancellor warns rival Liz Truss will fuel price rises by cutting tax too soon

The Independent UK

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read the most diverse news in one place.

Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say

‘If Russia were to completely cut supplies and we had a cold winter it would be a perfect storm’

The Independent UK

Liz Truss grins as she visits world's biggest Union flag

LIZ Truss beamed with joy as she visited the world’s largest Union flag on Friday.

The National (Scotland)

First average house price fall in UK since June 2021, month-on-month figures show

A typical UK property now costs £293,221

Wales Online

Stagflation: What is it, and what can be done to tackle it?

A recent report has warned that the UK is headed for a recession that will plunge millions of vulnerable households across the UK into financial crisis.

Evening Standard

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Truss ‘irresponsible’ for threatening to review Bank of England remit

Labour’s Rachel Reeves says Conservatives are ‘playing blame game’ for UK’s economic problems

The Guardian - UK

Rishi Sunak ‘did not take a holiday as chancellor’ as PM accused of going awol during economic crisis

Treasury spokesperson expresses hope Sunak has quality time with his family in ‘whatever job he gets next’

The Independent UK

‘Next PM must find billions to help struggling households’

There are strange quirks to the UK’s unwritten (or so no one writes in, uncodified) constitution. Did you know that in the 1990s and 2000s, a by-election was not considered legitimate unless Michael Crick had doorstepped a terrified local candidate?

Evening Standard

Andrew Bailey: who is the Bank of England governor – and is his job safe?

He has been accused of being asleep at the wheel over inflation, but sacking the Threadneedle Street chief would be a risky step

The Guardian - UK

Stocks fall after US jobs growth surges

London (AFP) - Stock markets slid Friday as a much stronger-than-expected US jobs report raised the prospect that the Federal Reserve will maintain its aggressive monetary policy to combat inflation.

AFP

Outrage as Tory minister tells Scots to wait weeks for cost-of-living help

Business Secretary Kwasi Kwarteng said he expects an emergency budget from the next prime minister to contain measures to help people.

Daily Record

Seven steps you need to take now to survive the oncoming winter bills storm

The cost of living crisis will accelerate in October with a year of recession forecast - meaning higher bills, higher prices and job cuts

Wales Online

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The Independent UK

Recession forecast explained: What you need to know

The UK’s central bank has predicted a long recession and eye-watering inflation

The Independent UK

Andrew Bailey denies Bank was too slow to act over soaring inflation

The Governor of the Bank of England warned that earlier interest rate rises could have brought forward a recession.

Daily Mirror

Everything you can do NOW to prepare for ‘devastating’ winter bill shock

Winter is coming and families are being warned of a string of enormous bill hikes. We explain everything you can do to prepare for the huge increases

The Conversation

Inflation: why it's happening and why interest rates are going up to combat it

Soaring prices have forced central banks in many developed countries to raise their interest rates in recent weeks. These organisations are in charge of attempts to rein in rising costs that are threatening to wreak havoc on household budgets in coming months.

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news in one place.

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Daily Mirror

What is 'stagflation' and how is it different from inflation as UK faces recession

When an economy is ravaged by high inflation and stagnated growth, economists brand it 'stagflation' to describe the nightmare combination. The UK economy is heading that way

The Independent UK

Interest rates: How will student loans be affected?

Bank of England’s dire new forecast sparks recession fears

Birmingham Post

Amazon workers walk out for second day in pay dispute

Staff at the warehouse in Bristol are protesting in response to a 35p-an-hour pay rise being offered by the tech giant

AFP

European stocks slip on stagflation fear, before US data

London (AFP) - European stock markets slid Friday after the Bank of England's gloomy recession warning raised the spectre of stagflation, and as investors awaited critical US payrolls data, dealers said.

Evening Standard

Conservative leadership race: ‘Next PM must find billions to help out struggling households’

Carrying on with the current economic policy is ‘not going to cut it’, IFS chief says

AFP

Where's Boris? UK's PM on leave as economic crisis deepens

London (AFP) - A British cabinet member admitted Friday "I don't know where Boris is" as the prime minister checked out on holiday, in a week that saw the Bank of England warn a year-long recession is coming.

The Independent UK

Companies must rein in profits rather than workers limit pay demands, unions tell Bank of England

Companies should be asked to rein in profits instead of workers urged to limit pay demands, angry union leaders have told the Bank of England.

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