UK in recession and further interest rate hikes probable, Bank warns Kwarteng

Threadneedle Street makes clear on eve of tax-cutting mini-budget that plans risk triggering more rate rises

Mini-budget 2022Threadneedle Street makes clear on eve of tax-cutting mini-budget that plans risk triggering more rate rises Thu 22 Sep 2022 22.30 BST The Bank of England has warned Kwasi Kwarteng … [+6493 chars]

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Bank of England and new UK government risk policy clash - Reuters UK

The Bank of England and Britain's new finance minister Kwasi Kwarteng will test their ability to jointly manage the economy next week, with the BoE set to raise interest rates to fight inflation and Kwarteng eyeing tax cuts which could stoke prices.

Bank of England says it never supported banker bonus cap, amid calls to scrap it - Reuters

The Bank of England (BOE) never supported a cap on bankers' bonuses and thinks there are more effective ways to ensure banks account properly for risks, a spokesperson for the central bank said on Thursday.

Kwasi Kwarteng planning to scrap caps on bankers’ bonuses

Critics question chancellor’s idea of abolishing rules imposed after 2008 financial crash during cost of living crisisThe UK chancellor, Kwasi Kwarteng, is reportedly planning to scrap caps on bankers’ bonuses in a controversially timed move to attract more t…

Kwasi Kwarteng named Britain's new finance minister - Reuters

Britain's new Prime Minister Liz Truss has appointed business and energy secretary Kwasi Kwarteng as the new finance minister, her office said in a statement on Tuesday.

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