Latest UK News Daily
Vol. LXXVIII · No. 4,217
Governor Andrew Bailey told reporters the decision was finely balanced, with services inflation still sticky and wage growth uncomfortably above target. The MPC voted 6–3 to hold, with three members seeking an immediate cut.
Speaking beneath the chandeliers of the Mansion House, the Chancellor set out a 10-year plan to consolidate defined-contribution schemes and direct more British savings into UK growth assets.
Deputy Governor Sarah Breeden warned that domestic services prices are the most stubborn component of the inflation print, and that the path back to 2% is unlikely to be linear.
The Chancellor used her first G7 to argue for a coordinated framework on stablecoins and to table a new 'reparations loan' mechanism backed by immobilised sovereign funds.
In a sometimes tense two-hour session, the Governor defended the MPC's cautious stance and pushed back against claims that policy is now needlessly restrictive.
The Treasury and City of London Corporation unveiled a fund designed to crowd in private capital for offshore wind, retrofit and nature-based projects.
The Bank's prudential committee kept its overall risk assessment at 'elevated' and called on lenders to bolster resilience against a sharp growth slowdown.
"A press conference is where policy stops being theory. At the lectern, the Governor's eyebrow matters as much as the rate decision — and our job is to read both."
A guided tour of the nine-person vote, the staff forecast and the hours after the cameras leave the room.
Twelve hundred guests, two speeches and a centuries-old toast. What actually goes on at the Lord Mayor's annual banquet.
The MPs who grill the Governor, the ones who don't, and the question that always makes a Bank press officer wince.