Rising inflation will see household disposable income fall by 1.75 per cent this year in the second largest contraction on record, according to the Governor of the Bank of England.
Andrew Bailey said: "I recognise the hardship this will cause for many people living in the UK, particularly those on the lowest incomes … who are hit hardest by increases in the prices of basic necessities." Report by Buseld.
Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The governor of the Bank of England has signalled the UK is still on course for an interest rate cut as official figures show a further easing in the pace of.. Sky News
Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew Bailey to Buckingham Palace, where he was presented with £5, £10, £20 and £50 notes. These are the first notes which feature the image of His Majesty. Mrs John said it's "a great pleasure to be able to show the King what he's going to look like on the bank notes of the future." Mrs John revealed the bank notes will be released to the general public on the 5th of June. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The King welcomed Bank of England Governor Andrew Bailey to Buckingham Palace, who presented him with the first bank notes featuring his portrait as monarch. The portrait of His Majesty which appears on the notes is based on a portrait that was provided by the Palace to the Bank of England.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has voted to keep interest rates unchanged, but showed what was perhaps the clearest sign in years that cuts could come in the months ahead. Bank governor Andrew Bailey said the economy is “not yet at the point” where rates can be lowered, but things are “moving in the right direction”. For the first time since September 2021, no-one on the nine-person decision-making body that sets interest rates voted for an increase.
Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Jeremy Hunt announces UK inflation fell to the lowest level in more than two years, to 3.4%. He would not be drawn on whether the fall would allow him to announce pre-election tax cuts in an autumn statement. Mr Hunt said: “What I’m really saying is that as inflation gets closer to its target, that opens the door for the Bank of England to consider bringing down interest rates, that brings down mortgage rates, that makes a very big difference. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour leader Sir Keir Starmer says his government would transfer the 10 remaining privately run rail networks to public ownership “well within the first term” by folding existing private passenger rail contracts into a new body as they expire. His comments come during a visit to a train manufacturer Hitachi in Newton Aycliffe, Co Durham. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Superintendent Ross Evans from Dyfed Powys Police says a 13 year girl has been charged with three counts of attempted murder. She was arrested yesterday after three people, two teachers and a student, were stabbed at a school in Wales during the morning break. It’s an incident that’s left the local community in shock. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The sister of the headteacher Ruth Perry, who took her own life following an Ofsted report, says it's "depressing" to see the Government has decided to keep one word judgements for school inspections. The government was asked by the Education Select Committee to scrap the single word assessment - such as "outstanding or inadequate" - but said today it's keeping the headline grade because it provides a "succinct" summary for parents and schools. Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Angela van den Bogerd, a former senior director at the Post Office, arrived at the Post Office Horizon IT Inquiry on Thursday morning. She began with an apology on the first of her two days of giving evidence, telling the inquiry she was "truly, truly sorry" for the "devastation" caused to wrongly convicted sub-postmasters and their families. Errors in the Post Office's Horizon IT system meant money appeared to be missing from many branch accounts when, in fact, it was not. As a result, more than 700 sub-postmasters were handed criminal convictions between 1999 and 2015. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Prince of Wales met 11-year-old Harry and his mother as he opened the Anchor Point community centre in Aston, Birmingham.
Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
![Banking Chief welcomes new notes featuring King's portrait [Video]](https://video.newsserve.net/300/v/20240409/1372233520-Banking-Chief-welcomes-new-notes-featuring-King.jpg)
![The King is presented with bank notes featuring his portrait [Video]](https://video.newsserve.net/300/v/20240409/1372231250-The-King-is-presented-with-bank-notes-featuring.jpg)
![Bank of England keeps interest rates on hold [Video]](https://video.newsserve.net/300/v/20240321/1370074186-Bank-of-England-keeps-interest-rates-on-hold.jpg)
![Chancellor hails inflation rate fall to 3.4% [Video]](https://video.newsserve.net/300/v/20240320/1369692662-Chancellor-hails-inflation-rate-fall-to.jpg)
![Sir Keir Starmer vows to renationalise Britain's railways [Video]](https://video.newsserve.net/300/v/20240425/1373753574-Sir-Keir-Starmer-vows-to-renationalise-Britain.jpg)
![13-year-old girl charged after Wales school stabbing [Video]](https://video.newsserve.net/300/v/20240425/1373752016-13-year-old-girl-charged-after-Wales-school.jpg)
![Ruth Perry's sister slams decision to keep one word rulings [Video]](https://video.newsserve.net/300/v/20240425/1373747140-Ruth-Perry-sister-slams-decision-to-keep.jpg)
![Former Post Office exec tells inquiry she’s ‘truly sorry’ [Video]](https://video.newsserve.net/300/v/20240425/1373743296-Former-Post-Office-exec-tells-inquiry-she.jpg)
![William meets 11-day-old baby during visit to skills centre [Video]](https://video.newsserve.net/300/v/20240425/1373738864-William-meets-11-day-old-baby-during-visit.jpg)
