UK Banks Cut Savings Rates

Sterling and gilt yields climb as traders price in a policy pivot, challenging the central bank's four-meeting pause at 3.75%.

The regulatory green light for the narrowbody variant removes a major overhang, anchoring a broad recovery in US equities despite tech sector weakness.

The regulatory green light for the narrowbody variant removes a major overhang, anchoring a broad recovery in US equities despite tech sector weakness.

The regulatory green light for the narrowbody variant removes a major overhang, anchoring a broad recovery in US equities despite tech sector weakness.

The central bank's fourth consecutive pause underscores the dilemma of easing policy while energy costs threaten to reignite price pressures.

The UK central bank's pause underscores a broader shift in global monetary policy sentiment, with investors growing wary of the new Federal Reserve leadership's hawkish tilt.

Policymakers keep borrowing costs steady for a sixth consecutive meeting, signaling caution as inflation pressures persist and the path to further cuts remains uncertain.

Policymakers keep borrowing costs steady for a sixth consecutive meeting, signaling caution as inflation pressures persist and the path to further cuts remains uncertain.

▼ 3.28%  close $345.96 from $357.70

Turkish equities extended losses with the benchmark index closing at 13,501.55 points, weighed down by a sharp 3.17% drop in the banking sector.

Lenders argue regulatory divergence is eroding London's competitiveness as the city faces a prolonged IPO drought and structural capital-market weakness.

Rising energy costs threaten UK growth, compelling policymakers to maintain the 3.75% benchmark for a fourth consecutive meeting despite global market rallies.

The fund's caution complicates the case for an imminent rate cut, even as lower oil prices from the US-Iran truce ease price pressures.

Strong US sales and continued Jardiance uptake drove first-half revenue growth for the German pharma giant, highlighting resilience in the diabetes and kidney care segment.

Andrew Bailey's comments on regulatory simplification add to a broader shift at the central bank, which is also preparing to loosen capital requirements for lenders to support credit availability.

Central bank warnings on persistent inflation and weak output tighten the window for new tax measures, adding pressure to sterling and gilt yields.

Pirelli, Continental and Michelin post year-to-date gains while broader automotive weakness drags on European indices.

The Bank of England, PRA and FCA start supervising designated firms on 13 July, marking a new phase in UK financial infrastructure resilience.

The central bank's move to relax regulatory buffers signals a push for credit growth, even as officials flag persistent macroeconomic threats.

Phillips takes up the role on 19 October, overseeing the UK's currency issuance and banknote security operations.

The Bank of England's decision to maintain the base rate underscores the central bank's cautious stance amid lingering price pressures, keeping borrowing costs elevated for households and businesses.

With the Monetary Policy Committee split 7-2 on holding rates at 3.75%, the central bank’s top economist seeks to calm markets over the internal divide.

The appointment signals a shift toward institutional credibility in UK fiscal oversight, aligning with opposition efforts to reshape economic policy.

Policymakers pause the easing cycle as core price pressures prove stickier than expected, keeping borrowing costs elevated for the near term.

Policymakers pause the easing cycle as core price pressures prove stickier than expected, keeping borrowing costs elevated for the near term.

Policy recalibration underscores investor caution over UK fiscal rules, with corporate investment plans on hold pending clearer guidance.

Policy recalibration underscores investor caution over UK fiscal rules, with corporate investment plans on hold pending clearer guidance.

Moneyfacts warns that customers sticking with legacy savings products are missing out on higher yields as institutions lower base rates.

Moneyfacts warns that customers sticking with legacy savings products are missing out on higher yields as institutions lower base rates.