The Bank of England has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead.
Bank governor Andrew Bailey said the economy is “not yet at the point” where rates can be lowered, but things are “moving in the right direction”.
For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase.
Report by Covellm.
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Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with £5, £10, £20 and £50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England.
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Chancellor Jeremy Hunt announces UK inflation fell to the lowest level in more than two years, to 3.4%. He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement. Mr Hunt said: “What I’m really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Former Conservative MP Natalie Elphicke has accused the prime minister of 'letting the country down' by not tackling small boat crossings, adding she had confidence Labour would.
Sir Keir Starmer said Ms Elphicke's defection speaks for 'very many Tory voters' who believe its party has changed. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Keir Starmer has welcomed two new MPs into Parliament - including former Conservative MP Natalie Elphicke whose defection to Labour followed that of Dan Poulter two weeks ago.
The Labour leader asked the prime minister how many more times he'd have to be rejected by his own MPs until he 'takes the hint'. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Paymaster General Jonathan Ashworth has warned not to write of the Conservative Party in the general election - despite its losses in the local elections. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
John Swinney has officially been sworn in as Scotland’s new First Minister at the Court of Session in Edinburgh.
It comes after the Perthshire North MSP - who has previously served as finance secretary, education secretary and deputy first minister for the Scottish government- was elected SNP leader unopposed on following the resignation of Humza Yousaf. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Energy Security Secretary Claire Coutinho insists border security was not compromised during a system outage at UK airports this week and that the problems were not the result of ‘malign’ activity. But she says the government is renewing its security contractors after the Ministry of Defence’s payroll system was hacked. Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The largest single holder of US debt is China. China and Russia are working to reduce their dependence on the Dollar. Gold has been moving from West to East. And the US likely doesn't have all..
Interest rates are currently at an all-time high as central banks such as the Bank of England, the US Federal Reserve, and the European Central Bank aim to bring inflation down to their..
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