Category: Bank of England

Reeves tells City regulator to encourage more risk-taking in financial sector

New remit given to FCA by chancellor raises fears of a weakening of rules meant to avert another financial crisisThe financial regulator has been ordered to encourage more risk-taking across the City, raising concerns that the...

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UK economy grew by 0.1% in third quarter of 2024, says ONS

First quarter under Labour government shows services and manufacturing slowed in run-up to budgetBusiness live – latest updatesThe UK economy grew by 0.1% in the third quarter of the year, down from 0.5% in the second...

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UK’s borrowing costs rise as Reeves’s budget prompts fears of slower interest rate cuts

Markets conclude higher level of public spending could lead to higher inflation, making cuts in Bank of England rate less likelyBusiness live – latest updatesUK government borrowing costs have risen to their highest level...

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UK inflation falls below 2% for first time since 2021 in boost to Rachel Reeves

Surprise annual drop to 1.7% in September raises chance of interest rate cuts, increasing budget leewayAnalysis: Sharp inflation drop gives green light to more aggressive rate cutsBusiness live – latest updatesInflation in...

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No 10 rejects claims PM received Taylor Swift tickets as ‘thank you’ for security measures – as it happened

Downing St says decisions over protection for the singer were up to Scotland Yard and not the governmentKeir Starmer has has welcomed private investment of £550m to make it easier for people to find a home, PA Media...

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Labour MPs urge Reeves to spend tens of billions more on ailing public services

About 70 colleagues have written to chancellor ahead of budget pleading for her to commit to rewriting fiscal rules• How Labour promises have left Rachel Reeves with a giant budget headache Scores of Labour MPs are pleading...

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UK economy returns to growth in boost to Rachel Reeves before budget

GDP rises by 0.2% in August after flatlining in June and JulyThe UK economy returned to growth in August after flatlining for two months, in a boost for the chancellor, Rachel Reeves, before the autumn budget.The Office for...

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Labour needs £25bn a year in tax rises to rebuild public services, warns IFS

Thinktank says tax increases in budget will be necessary even if Rachel Reeves changes fiscal rulesWill Rachel Reeves’s rules on debt and spending survive the budget?Keir Starmer’s promise to end austerity and...

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‘It’s tragic’: Bank of England governor watching Middle East crisis closely

Exclusive: in an interview with the Guardian Andrew Bailey says he fears conflict will affect oil pricesThe Bank of England is monitoring the Middle East crisis amid fears that a worsening conflict between Iran and Israel will...

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