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The Latest Breaking News from Bank of England

Rishi Sunak reviewing Northern Powerhouse Rail and other infrastructure projects

There has also been speculation that the Sizewell C nuclear power plant could be delayed or scrapped.

The Independent UK

The Standard View: Governing is about choices, never more so than in tough times

The grim economic news keeps coming. Yesterday the Bank of England raised interest rates by 0.75 percentage points, its highest single hike in more than three decades. And that was just the start.

Evening Standard

Martin Lewis warns how much more you will have to pay on your mortgage after interest rate hike

The financial guru gave his advice after the Bank of England put up interest rates to 3% - those on variable and tracker rate mortgages are likely to be affected

Chronicle Live

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Jeremy Hunt plots tax hike for savers and businesses as Brits face longest ever recession

Chancellor Jeremy Hunt is expected to announce tax hikes and massive cuts to public spending in an attempt to wrestle the economy back under control after Liz Truss's chaotic stint in No10

Daily Mirror

London property market sees demand for homes almost halved since disastrous mini-Budget

The fall in demand for homes is far greater in London than any other UK region.

Evening Standard

Brexit a key reason for UK inflation, former Bank of England boss says

BREXIT is one of the key reasons why the UK’s central bank has been forced to raise interest rates despite an oncoming recession, a former…

The National (Scotland)

Former Treasury minister blames Liz Truss and Kwasi Kwarteng for budget chaos

A former Treasury minister has repeatedly refused to apologise for his role in Liz Truss’s disastrous “mini-budget” which nearly crashed the economy.

Evening Standard

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Interest rate pain is consequence of Brexit, says former Bank of England governor OLD

Current financial woes ‘bear out warnings of Remain side in EU referendum’

The Independent UK

Martin Lewis fears for 'disastrous' interest rate rise as he advises how to safe-guard

Martin Lewis appeared on Friday morning’s instalment of Good Morning Britain after the Bank of England hiked interest rates

Daily Mirror

UK rail strikes suspended as RMT says employers ‘seeing sense’ and talks intensifying – as it happened

The rail union says strikes for Saturday, Monday and Wednesday have now been called off

The Guardian - UK

Interest rate rise 'further headache' for business, says British Chamber of Commerce

The Bank of England has increased the base rate to 3% in a bid to ease UK inflation

Birmingham Post

Mortgage repayment calculator instantly works out how much your new monthly bill will be after interest rates soar

Just enter your loan amount, the interest rate and term of loan to work out your monthly payments.

Daily Record

UK ‘hours’ from potential financial meltdown after mini-budget, Bailey confirms

The Bank of England Governor said the Bank had to step in ‘quickly’ and ‘decisively’ to mitigate a ‘very real threat to financial stability’

Evening Standard

Friday briefing: The grim reality of what happens to migrants after they leave detention

In today’s newsletter: As the home secretary visits the Manston asylum processing centre, this is what vulnerable asylum seekers face on entering in the UK

The Guardian - UK

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Daily Record

Current mess and predicted 'two-year recession' all the fault of the Tories

It is time for people to sit up and take notice after the Bank of England imposes hike in interest rates, says Record View.

The Independent UK

Chancellor weighs up rise in capital gains tax in bid to fix £50bn black hole

Jeremy Hunt is also considering an increase in dividend taxes, in a move that would come as a blow to entrepreneurs.

The Independent UK

Jeremy Hunt ‘considering rise in capital gains tax’ to fix £50bn black hole OLD

Chancellor warns of ‘difficult decisions’ in fight to ‘restore stability’

Daily Mirror

'Manchester Arena attack report adds anguish - but remember where responsibility lies'

Twenty-two people were killed when suicide bomber Salman Abedi detonated a homemade device in the foyer of Manchester Arena as crowds left an Ariana Grande concert five years ago

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ABC News

Qantas investors back Alan Joyce multi-million-dollar bonus, ASX gains after weak start

Qantas shareholders support big bonuses for executives including boss Alan Joyce, ASX regains lost ground, the Bank of England raises rates by the most in more than three decades.

Daily Mirror

Why has the Bank of England hiked interest rates? All your questions answered

The Bank of England issued a gloomy warning that the economy could fall into eight consecutive quarters of negative growth if current market expectations prove correct

Liverpool Echo

Everything you need to know about today's Bank of England warning

The Bank of England have announced today that the UK is facing its longest recession since the 1920s, but what does that actually mean?

The Guardian - UK

Bank of England warns of longest recession in 100 years as it raises rates to 3%

UK economy faces ‘very challenging outlook’ with recession now expected to last until middle of 2024

The Guardian - UK

BT is feeling the squeeze as inflation clouds its future

Telecoms company warns of job cuts as cost pressures and energy bills threaten its financial plans

The Independent UK

Britain facing ‘prolonged pain’ as Bank says recession could stretch into 2024 OLD

‘Everyone will be affected’: Hike in housing costs and increased inflation to hit hard

Evening Standard

What does the latest interest rate hike mean for me?

Interest rates have gone up to 3% which means people, especially mortgage holders, will face higher borrowing costs.

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