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The Latest Breaking News from Huw Pill

Bank of England must not push interest rates too high, its chief economist says

Inflation should be back within Bank’s 2% target range by middle of 2024, Huw Pill adds

The Guardian - UK

Mortgage hammer blow of £5,000 a year for London homeowners

250,000 London households comings off fixed loan deals will bear the brunt of announced interest rate rises

Evening Standard

‘Reason to be optimistic:’ Bank chief offers hope on interest rate hikes

Interest rates are no longer expected to rise as high as feared this year, a Bank of England chief said on Friday.

Evening Standard

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FTSE 100 hits all-time high after US jobs report beats forecasts – as it happened

UK’s blue-chip index has hit a new record high of 7906 points, helped by weak pound, and hopes that interest rates may be near their peak

The Guardian - UK

Bank of England warns high inflation could last longer than expected

Chief economist says risks remain despite fall in wholesale energy prices and UK on brink of recession

The Guardian - UK

Bank of England poised to raise borrowing costs to combat inflation

Financial markets expect 0.5 percentage point increase as fears mount that UK is about to enter long recession

The Guardian - UK

Brexit has added more than £200 to UK household food bills, study finds

Leaving EU has cost Britons at least £5.8bn in higher food bills

The Independent UK

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Federal Reserve to slow interest rate rises as it tackles 40-year inflation high

Jerome Powell warned there ‘was more ground to cover’ and rates would stay higher for an extended period

The Guardian - US

Brexit partly to blame for high inflation, says Bank of England economist

Leaving EU ‘plays a part’ in wider economic woes, says Huw Pill

The Independent UK

Bulb Energy takeover by Octopus cleared; anger over HSBC branch closures; food inflation at record – as it happened

The UK’s sale of collapsed Bulb Energy to Octopus Energy will go ahead after it was approved by a London judge this afternoon

The Guardian - UK

Bank of England deputy governor could vote to cut interest rates if inflation pressures ease – as it happened

Sir Dave Ramsden expects to vote to keep raising borrowing costs, but sees potential for rate cuts if persistent inflation stops being a worry

The Guardian - UK

UK workforce exodus could force BoE to raise interest rates, says chief economist

Departure of more than 500,000 workers since Covid risks stoking inflation, says Huw Pill

The Guardian - UK

Bank of England will raise interest rates again, says chief economist

Huw Pill says there is ‘still more to do’ on tackling inflation despite risks of prolonged recession

The Guardian - UK

Bank of England’s chief economist warns of more interest rate rises to come

Huw Pill warns we ‘cannot declare victory’ yet against inflation

The Independent UK

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The Independent UK

More interest rates rises to come, warns Bank of England economist

Huw Pill, chief economist at the Bank of England, said we ‘cannot declare victory’ yet against inflation.

The Guardian - UK

Large tax rises from Jeremy Hunt ‘could put UK at risk of deeper slowdown’

Such a move may force Bank of England to rethink interest rates approach, says its chief economist

The Independent UK

Pound surges to highest level since Truss mini-Budget after Sunak replaces her as PM

Gilt yields have almost returned to their position before the Truss mini-Budget

The National (Scotland)

'What criticism?': Tory MSP claims he never heard of IMF attack on UK tax cuts

THE Scottish Tories have backed the UK Government’s tax cuts despite an extraordinary intervention from the International Monetary Fund and the…

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The National (Scotland)

IMF urges Kwasi Kwarteng to change course in extraordinary statement

THERE is international pressure on Chancellor Kwasi Kwarteng to change course following his mini budget announcement.

The Independent UK

Pound falls as Bank of England intervenes to calm markets

Sterling was trading at $1.073 on Wednesday afternoon, improving from $1.066 at 2pm

The Guardian - UK

Bank of England intervenes in bond market - as it happened

Bank’s emergency move brings relief to bond market, but fails to stabilise UK currency

Daily Mirror

Mortgage costs face 30-year high of 6% as Bank of England issues stark warning

Huw Pill warned borrowers to brace themselves for a “significant” rate hike after lenders Santander and HSBC, along with the Nationwide and Yorkshire building societies, joined a rush of lenders to pull home loans or up their rates

Wales Online

International Monetary Fund makes extraordinary intervention as it urges Chancellor to change course

Kwasi Kwarteng has been urged to 're-evaluate the tax measures' outlined in last week's mini-budget

The Guardian - UK

Speed and scale of events may force Bank to expedite next rate decision

Amid extraordinary market changes, the Bank of England seems unlikely to sit on its hands

The Guardian - UK

Homeowners warned of ‘significant’ rise in UK interest rates

Bank of England’s chief economist speaks out after mini-budget, with financial markets expecting rates to reach up to 6%

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