Good afternoon from Bloombergs UK finance team. Here are five news stories from the Square Mile and beyond that caught our eye this week.
BOE Raises Rates by Most Since 1995, Warns of Long RecessionThe Bank of England unleashed its biggest interest-rate hike in 27 years as it warned the UK is heading for more than a year of recession under the weight of soaring inflation. The pound fell.
UK Considers Divisive Home Loan Revolution to Rival ThatcherPlans by the ruling Conservative Party, including possible 40-year fixed-rate mortgages, are the latest part of the property-owning democracy idea championed by generations of UK politicians.
HSBC Faces Skepticism as Pushback Against Breakup Call StartsHSBC kickstarted its public fightback against Ping Ans push to break it up this week. The early indications are that the lender has a long way to go to convince some shareholders of its strategy.