Pound’s trade-weighted index reaches highest level since Brexit vote
The Bank of England measure hit its strongest level since June 2016 on 4 November, with reports citing both UK economic conditions and a weaker US dollar.
Topic
Bank of England
The latest NewsJaws reporting on Bank of England: developments, background and what happens next, with every source linked.
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IllustrationBank of England raises interest rate to 4%: what it means for borrowers and savers
The quarter-point increase is the first in more than three years. Tracker borrowers face higher payments, while changes for variable mortgages and savings depend on providers.
Liz Truss’s Bank Job revisits her 2022 premiership and imagines Britain in 2040
The former UK prime minister’s new book blames institutions for the turmoil surrounding her mini-budget and sets out a hypothetical future under her policies.
UK regulators propose fewer misconduct reports and manager checks
Plans reported on 22 October would narrow misconduct reporting and remove extra checks for an estimated 140,000 financial managers.
UK inflation rises to 3.5% as fuel prices climb ahead of Budget
Annual UK inflation rose from 3.1% in August to 3.5% in September, with higher petrol and diesel prices contributing to the increase ahead of the Budget.
UK financial sector rehearses global cloud disruption with 38 institutions
The Bank of England expects firms to act on lessons from SIMEX26, which brought major banks and market infrastructure operators together. Detailed results have not been published.
Business
UK 10-year gilt yield hits 19-year high ahead of budget
The yield reached 5.515% by lunchtime in London, according to the Guardian, adding pressure before John Healey’s budget. The eventual cost to public finances remains uncertain.
Business
Bank of England chooses puffin, owl, bumblebee and hedgehog for future notes
Four animals have been selected for the next £5, £10, £20 and £50 notes after a public consultation, but their denominations and final designs remain undecided.
PRA proposes automatic regulatory threshold rises, starting in 2031
A consultation proposes linking 128 banking, insurance and credit-union thresholds to nominal GDP. The first adjustment would be in July 2031, with no established estimate of...
UK house prices unchanged in September as mortgage costs rise
Lloyds put the average UK home price at £298,441, unchanged from August and a year earlier. Bank of England figures show fewer purchase approvals and higher rates on newly...
John Maynard Keynes play puts crisis policy debate on the West End stage
James Graham’s The Standard of Living portrays Keynes’s life and ideas as governments’ responses to financial crises remain a subject of debate.
Bank of England appoints Carlos Conceicao and Alexander Justham to enforcement committee
The two members joined the committee that decides contested Bank of England enforcement cases, bringing legal, regulatory and financial markets experience.
IllustrationBank of England approved extra funding for frontier AI work, minutes show
Newly published minutes record additional funding to address frontier AI challenges to the Bank’s investment portfolio, but disclose neither the amount nor the work it will pay...
UK 30-year gilt yield tops 6% as global bond sell-off deepens
Britain's longest borrowing benchmark reached its highest level since 1998. Inflation and debt concerns are weighing on bonds ahead of the UK budget, though no single cause of...
Andrew Bailey warns AI investment boom could bring market shocks
The Bank of England governor says high expectations for AI companies could give way to an asset-price correction. The Bank’s latest financial stability record details the wider...
UK house price growth halves to 0.8% in September, Nationwide says
Nationwide’s index recorded a monthly fall of 0.2% as its chief economist pointed to mortgage-rate pressure. Regional figures show a wide gap between Northern Ireland and East...
Bank of England warns financial risks are more connected as it holds bank buffer at 2%
The Financial Policy Committee says higher bond yields, growing AI-related borrowing and operational threats could reinforce one another, while judging UK banks resilient.
AI
Andrew Bailey calls for an AI ‘right to intervene’ as Bank of England warns of financial risks
The Bank of England governor wants rigorous testing to identify where authorities could step in as AI advances. A separate committee record warns of cyber risks and growing...