Bank of England’s Bailey: Interest rate cuts not on the horizon March 19, 2026 The Bank of England’s Andrew Bailey has ruled out the prospect of any interest rate cuts in the near future, warning that the sustained conflict in the Middle East constitutes a major shock to energy supply that could leave long-term scars on the British economy. In an interview with LBC set to air on Thursday [...]
Bank of England rebuffs calls to speed up ‘shadow banking’ stress test March 19, 2026 The Bank of England has rejected calls to speed up its inaugural stress test of the private credit industry, despite growing fears that a downturn in so-called shadow banking may pose a systemic threat to the global financial system. In a letter to the House of Lords’ Financial Services and Regulation Committee seen by City [...]
‘Confidence exits UK economy’: FTSE 100 dips below 10,000 mark March 19, 2026 The FTSE 100 dipped below the 10,000 mark as stocks plunged on Thursday on fears the war in the Middle East was set to bring regional energy production to a halt. Traders sold off assets en masse over the course of the day, with the FTSE 100 falling by some 2.5 per cent amid turmoil [...]
Borrowing costs surge as market bets on future Bank of England rate hikes March 19, 2026 The government’s short-term borrowing costs climbed to their highest level in more than a year on Wednesday, after the Bank of England announced a unanimous decision to hold its central interest rate. Traders aggressively pared back bets of future rate cuts on the news that the ongoing conflict in the Middle East led all nine [...]
Bank of England holds interest rates in unanimous decision March 19, 2026 Interest rates have been held as policymakers at the Bank of England warned the war in Iran could send prices spiralling as soon as April. Members of the Monetary Policy Committee (MPC) left interest rates unchanged at 3.75 per cent, with guidance to cutting rates in upcoming meetings now being dropped altogether. Several policymakers, including [...]
Oil and gas prices surge after Trump threatens to ‘blow up’ Iran energy site March 19, 2026 The surging price of oil and gas rocked markets this morning as tensions across the Middle East continued to spike fears of an energy crisis. Brent crude – the international benchmark for oil – hit $113 this morning, one of the highest levels since the conflict broke out three weeks ago. Meanwhile the price of [...]
UK job market weakens as economy set to worsen March 19, 2026 The jobs market failed to provide more positive signs for the UK economy as official data suggested that fewer postings were available for job seekers. An estimate published on Thursday showed that the number of payrolled employees dropped by 49,000 in February while data showed a small rise in January. The Office for National Statistics [...]
Bank of England Live: Interest rates held in first unanimous vote in eight years March 19, 2026 Welcome back to City AM‘s ongoing coverage of the interest rates decision. Interest rates have been held as rate-setters at the Bank of England warned the war in Iran could send prices spiralling as soon as April. In the first totally unanimous vote in eight years, all members of the Monetary Policy Committee voted to [...]
On This Day in 1831: America’s first recorded bank heist March 19, 2026 It stands as an archetypal heist: a pair of canny, hardened criminals; a simple but daring plan; a dogged law enforcement official and the tantalising mystery of the missing $63,000. The first bank robbery in America recorded in any detail had set the standard for a whole genre, says Eliot Wilson Have you ever wondered [...]
Interest rates set to be held as Bank backs ‘defensible strategy’ March 19, 2026 The Bank of England is set to hold interest rates at a crunch decision this afternoon as policymakers will opt for a “defensible strategy” in the face of uncertainty from the war in the Middle East. Markets have all but priced in a pause in interest rate cuts on Thursday, with most Monetary Policy Committee [...]