Political News
UK banks in good health despite turmoil - BoE governor
Bank of England governor Andrew Bailey has insisted that the UK banking sector remains in good health, despite being in a period of "heightened tension".
US Treasury not looking to expand deposit insurance programme, Yellen says
The head of the US Department of the Treasury said that her agency had not looked at expanding the country's deposit insurance programme, although in individual cases that was a possibility if needed.
Washington ready to act if necessary, deposit outflows have stabilised, Yellen says
The Secretary of the Treasury of the United States was set to tell a banking industry group that Washington would provide additional support if needed but that deposit outflows had stabilised.
UK faces higher taxes, lower living standards after Budget, say think tanks
Britons face a decade of lower living standards and poorer public services while paying higher taxes, leading think tanks warned on Thursday after the government’s spring Budget.
UK avoids recession, but living standards plunge, taxes rise - OBR
Britain's economy is forecast to avoid a recession in 2023, but living standards are still set to record their biggest two-year fall in seven decades, while the tax burden also increases for millions of people, the Office for Budgetary Responsibility said on Wednesday.
UK to avoid recession as Hunt unveils 'budget for growth'
The UK will avoid a technical recession this year with inflation falling below 3%, the chancellor of the exchequer confirmed on Wednesday, as he unveiled a ‘budget for growth’.
UK govt u-turns to extend energy bill support scheme by 3 months
The UK government has bowed to pressure from campaigners and u-turned on plans to axe support for household energy bills as another price rise in April threatened to put some families into poverty.
BoE's Mann warns on risk of 'greedflation' as firms exploit price rises to hold margins
Bank of England policymaker Catherine Mann on Tuesday said she was concerned UK companies could be using the cost of living crisis to hide price increases, known as “greedflation”.