Mortgage deals shrink by a fifth since outbreak of Iran war March 23, 2026 The number of mortgage deals on offer for homeowners have shrunk by nearly a fifth since war broke out in Iran just over three weeks ago. Just shy of 1,500 fewer residential mortgages were available on Monday morning, compared with March 9, amounting to a contraction of 19.5 per cent. According to financial information platform [...]
Starmer vows to use ‘every lever’ to protect Brits from damage to UK economy March 23, 2026 Sir Keir Starmer has vowed to use “every lever” to prevent households from being hit by higher energy prices amid growing fears the Iran war is wreaking havoc on the UK economy. On Monday morning, the Prime Minister suggested an emergency Cobra meeting between the most senior government ministers and the Bank of England governor [...]
Bank of England to hike interest rates twice, JP Morgan says March 20, 2026 The Bank of England will hike interest rates at its next meeting in late April, JP Morgan has predicted, presenting a new threat to the security of the UK economy. JP Morgan economist Allan Monks has said that the Bank’s Monetary Policy Committee (MPC) will opt to raise interest rates at least twice this year. [...]
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 [...]
Bank of England Live: Interest rates held in first unanimous vote in eight years March 19, 2026 Welcome back to City PM‘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 [...]
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 [...]
