LOUGHTON, England — After nearly two decades of renting in one of the world’s most expensive cities, the Szostek family began the week almost certain that they would finally own […]
Bank of England
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Back to news homeBritain’s Gamble on Tax Cuts has Economists Warning of Past Mistakes
Ms. Truss has been cheered on by conservative champions of supply-side economics in the United States, including many of the chief backers of Mr. Trump’s tax cuts. Stephen Moore, who […]
Why the British Pound Continues to Sink
Over the centuries, British leaders have often gone to extraordinary lengths to protect the pound’s value, viewing its strength as a sign of the country’s economic power and influence. King […]
To Calm Markets, Bank of England Will Buy Bonds on ‘Whatever Scale Is Necessary’
The Bank of England said on Wednesday that it would temporarily buy British government bonds, a major intervention in financial markets after the new government’s fiscal plans sent borrowing costs […]
U.K. Government Goes Full Tilt on Tax Cuts and Free-Market Economics
LONDON — Britain’s new prime minister, Liz Truss, gambled on Friday that a heavy dose of tax cuts, deregulation and free-market economics would reignite her country’s growth — a radical […]
Central Banks Raise Interest Rates, Fearing Worse Pain Later
A day after the Federal Reserve lifted interest rates sharply and signaled more to come, central banks across Asia and Europe followed suit on Thursday, waging their own campaigns to […]
Bank of England Raises Interest Rates to 2.25%
As Britain goes through a period of vast change, with a new government and new monarch, the central bank is continuing its efforts to stop high inflation becoming embedded in […]
Pound Falls as U.K. Debt and Tax Cut Plans Worry Investors
Much of the outward business of government in Britain is grinding to a halt during 10 days of national mourning until the state funeral for Queen Elizabeth II, when schools, […]
U.K. Inflation Rate Slows Slightly to 9.9 Percent
Consumer prices in Britain rose 9.9 percent in August from a year earlier, a slight easing of the inflation rate and the first decline in nearly a year, signaling that […]
Britain’s Labor Shortage Is Helping Drive Its Inflation Problem
For two and a half years, the upstairs room at Luc’s Brasserie, a French restaurant in the City of London, has sat idle, closed off through the ups and downs […]