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The Latest Breaking News from The Bank of England

UK economy shrinks in April as the Iran war energy shock takes a toll

Britain's economy contracted by 0.1% in April, the first monthly fall since August 2025, as the conflict in the Middle East pushed up energy costs and prompted households to rein in their spending.

Euronews

Nigel Farage Slams Deepfake X Ads Claiming He Fought Bank of England's Andrew Bailey

Nigel Farage condemns AI-generated deepfake adverts falsely portraying him confronting Bank of England governor Andrew Bailey, underscoring rising concerns over online fraud and digital deception.

International Business Times UK

Bank of England warns of AI scams as deepfakes of Farage-Bailey fight spread

Governor urges people to report videos on X that falsely show the men clashing in the Question Time studio

The Guardian - UK

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Nigel Farage speaks out over deepfake X adverts featuring him fighting Bank of England governor Andrew Bailey

The posts have circulated on X falsely claim Farage confronted Mr Bailey on the BBC’s Question Time

The Independent UK

UK Unemployment Set to Reach Highest Level Since 2015 as Iran Conflict Adds Pressure to Economy

The Confederation of British Industry forecasts UK unemployment to rise to 5.5%, the highest since 2015, due to rising costs, weaker growth, and global instability.

International Business Times UK

Badenoch to vow to scrap public sector equality duty in effort to fend off Reform

In speech on Tuesday, Tory leader will claim obligation to consider equality being used to advance ‘divisive agendas’

The Guardian - UK

Churchill Won't Be on UK Banknotes for Long: Hedgehogs and Puffins Could Replace Historic Icons

The Bank of England is hosting a vote on 18 native wildlife to replace historical figures on £5, £10, £20, and £50 notes — the first redesign without a Briton since 1970, to boost security and celebrate UK biodiversity.

International Business Times UK

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Bank of England reveals which animals could feature on its new-look banknotes

People are being asked to give their views on a selection of wildlife, native to the UK, that will appear on the next series of notes.

Evening Standard

Inflation target should not be increased, says Bank governor

Andrew Bailey he believes inflation would currently be at the 2% target level were it not for the conflict in the Middle East.

Evening Standard

Home mortgage approvals jump to 15-month high, figures show

The Bank of England said in its Money and Credit report that 65,945 mortgage approvals for house purchases were recorded in April.

Evening Standard

Richard Murphy: Are there too many unemployed young people? If so, it's on Labour

WHY are unemployment and alienation from the workplace such persistent problems among young people that they have consistently existed under…

The National (Scotland)

Oil falls amid hopes for Trump peace deal backing

Brent crude for July delivery traded lower as the US president said he was making a ‘final’ decision on a peace deal with Iran.

Evening Standard

Bank of England’s Bailey says no rush to raise interest rates amid Iran war uncertainty

Inflation can be tolerated above 2% target for now ‘given context of softness in real economy’, governor says

The Guardian - UK

Bank of England can tolerate inflation above 2% target, says Bailey

Andrew Bailey told an audience in Reykjavik, Iceland, that reacting too early to inflation concerns ‘may generate undesirable volatility’.

Evening Standard

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The Independent UK

How UK households are paying the cost of Trump’s Iran war – with big energy bill increases on the horizon

Petrol, food and even your home could all cost significantly more this year

The Guardian - UK

Britain’s politicians need to worry less about the bond markets – and more about the Bank of England

A new model of central banking would weaken the power of bond vigilantes – and help progressive politicians pay for transformative change, says academic Daniela Gabor

The Guardian - UK

UK service sector activity slumps in one of sharpest declines for a decade

Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran war

The Independent UK

Why has UK inflation gone down? What economic experts say will happen next

ONS reported that the Consumer Prices Index inflation fell to 2.8 per cent

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Evening Standard

Why has inflation gone down and where will it go from here?

Economists said April’s inflation fall will only be a brief respite before the Middle East conflict sends prices spiking again.

The Guardian - UK

Rising prices are Britons’ biggest money worry as inflation stays high, survey finds

Households ‘increasingly gloomy’ about finances amid fears of interest rate rises due to higher fuel prices

The Guardian - UK

Monday briefing: Is the bond market making Britain ungovernable?

In today’s newsletter: The fate of Liz Truss is a warning to any PM thinking of implementing radical economic reform. But does the need to appease the market mean real change is always out of reach?

Fortune

Scott Bessent made a billion betting against a faked currency. On China's, the Treasury chief is silent

Bessent has been a currency hawk ever since he worked for George Soros in 1992 and saw something off with the British pound.

The Independent UK

UK economy was on the right track – Trump’s Iran war has wrecked that

Domestic and overseas matters have combined to create a tough outlook for British businesses and consumers

Evening Standard

Foreign investors buying UK gilts risks volatility, says Bank rate-setter

Catherine Mann said overseas investors are playing a ‘particularly large role’ in buying gilts.

The Independent UK

The £6bn bond yields drama unfolding behind the headlines

UK 10-year gilts have risen by more than those issued by other advanced economies since the start of the Iran war

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