Burnham turns to ex-OBR and Bank of England chiefs on economic policy June 19, 2026 Andy Burnham has turned to a crop of heavyweight economic advisers, including a former Bank of England economist and the ex-head of the Office for Budget Responsibility, in a bid to bolster his economic credentials ahead of a potential Labour leadership challenge, it has been reported. The new MP for Makerfield has sought advice from [...]
The Bank of England is keeping Britain in the waiting room June 19, 2026 The MPC’s decision to holding the Bank rate for the fourth meeting is downstream of a government, and a country, that’s run out of ideas, says Emmanuel Igwe What sound does a country make when it has run out of ideas? Rather than cacophonous noise or a muted groan, I would say that sound is [...]
As it happened: Pound dips and stocks slip as Andy Burnham victory triggers political uncertainty June 19, 2026 Good morning from the City AM liveblog team. Andy Burnham has secured his place in the House of Commons after a decisive by-election win in Makerfield overnight, with 54.8 per cent of the vote, well ahead of Reform’s 34.5 per cent. Top of Burnham’s to-do list is triggering a leadership challenge inside the Labour party, [...]
Bank of England to ‘tolerate slow return’ to inflation target as interest rates held June 18, 2026 The Bank of England has said it will tolerate a delay in getting inflation back to its two per cent target as it held interest rates at 3.75 per cent in a split Monetary Policy Committee (MPC) decision. Bank officials said they were closely monitoring the outcome of a peace deal being struck between the [...]
Why young men would rather give up sex than smartphones June 18, 2026 A generation of young men biologically primed for connection and choosing screens instead is a sharp deviation from both our nature and the basic imperative to continue our species. For a society with more food, shelter and safety than our ancestors could have dreamed of to simply stop wanting to reproduce, something has gone deeply [...]
HSBC coughs up $25m over Australian scam failures June 18, 2026 HSBC has agreed to cough up just shy of $25m after admitting to failures in protecting customers in Australia from scammers. The Australian arm of Europe’s biggest lender was investigated by the watchdog over alleged “widespread and systematic failures” to shield its customers targeted by fraudsters. The Australian Securities and Investments Commission (ASIC) said it [...]
Job vacancies fall again in unemployment risk June 18, 2026 Job vacancies available across the UK dropped again, official data revealed, posing a further risk for Britons out of work. The Office for National Statistics said the number of job vacancies fell by 19,000 between March and May. The unemployment rate dropped to 4.9 per cent per cent compared to five per cent in data [...]
As it happened: Stocks sink after Fed and Bank of England opt for hawkish hold; Oil price tumbles June 18, 2026 Welcome back to the City AM liveblog. Interest rates were left unchanged at 3.75 per cent in Bank of England’s monetary policy committee meeting today as rate-setters wait to find out whether the Iran war peace deal holds up. The Bank’s decision followed Thursday’s inflation data, which stayed below undershot expectations after coming at 2.8 [...]
Andy Haldane: Britain after Brexit June 18, 2026 The UK economy is suffering from deep-seated psychological scarring caused by a sequence of crises, which necessitates a strategic re-imagining of the state’s role in generating growth, says Andy Haldane We are fast approaching the ten-year anniversary of Brexit – an event that is sure to leave a large and lasting scar on our economy, [...]
Interest rates next change ‘far more likely down than up’ June 18, 2026 Interest rates are set to be held on Thursday in what some analysts believe could be a split decision as two Bank of England officials could back a 25 basis point hike. The Bank’s Monetary Policy Committee is widely expected to leave interest rates unchanged at 3.75 per cent, though some members could back a [...]