#Bank of England

UK Bank Shares Plummet Amidst Proposed Windfall Tax on Profits

The share prices of major UK banks have taken a significant hit following suggestions that the government may introduce a new tax on banking profits, potentially generating up to £8bn annually. The proposal, put forth by the Institute for Public Policy Research (IPPR), has sparked concerns among traders and investors.

Bank of England's Rate Cut Amid Inflation Dilemma: Balancing Jobs and Prices

The Bank of England lowered interest rates despite inflation remaining well above its 2% target, citing growing uncertainty over the pace of future cuts and shifting economic priorities.