Good night. The Bank of England has decided to keep borrowing costs at 5.25 percent, ending a cycle of 14 consecutive interest rate increases. Additionally, Rupert Murdoch resigned as chairman of News Corp and Fox.
Interest rates are now at their peak, economists say
Economists have predicted that interest rates will not rise further after the Bank of England decided to keep borrowing costs at 5.25 percent. The Monetary Policy Committee voted to keep rates unchanged after a surprise drop in inflation figures on Wednesday. Go behind the scenes of the secret interest rate meeting, courtesy of James Fitzgeraldand read the latest updates on our live blog.
Following the news, NatWest and TSB cut mortgage costs. Lauren Almeida It has the complete story. Plus, now is the best time to lock in a savings rate for 15 years. James Fitzgerald reveals the offers to consider.
Climate change zealots ‘don’t care about the impact on families’, says Sunak
Rishi Sunak said people with “more ideological zeal” about climate change “simply don’t care about the impact on families”, as he continued to defend his moves towards green policies. The Prime Minister also said he did not feel “intimidated” by the resistance he might face against his plans when asked about a possible Commons vote on the policies. Read our live blog for the latest reactions.
Previously, Kemi Badenoch suggested that former net-zero emissions tsar Lord Goldsmith is too rich to understand the need to soften climate commitments. Lord Goldsmith, a Conservative environmentalist who resigned from his ministerial role in June, warned Sunak that he would be remembered the moment the UK “turned its back on the world and future generations”. Ross Clark believes that the extremism of the Committee on Climate Change is hidden behind Sunak’s speech.
King Charles calls for measures to step up the fight against climate change
The king became the first British monarch to give a speech in the French Senate calling for action to step up the fight against climate change. His Majesty urged the assembled politicians and dignitaries not only to “appreciate and nurture our Entente Cordiale”, the historic 1904 treaty that helped thaw cross-Channel relations, but to build on it with further action to protect the planet. Follow the latest from the King and Queen’s state visit via our live blog.
Meanwhile, the Queen and First Lady of France faced off today in an impromptu table tennis match, as henry samuel reports. Elsewhere, Antonio Peregrino has detailed why the French are obsessed with our royal family.
Afternoon Briefing: Today’s Essential Headlines
Books | Emma Raducanu has backed a reimagining of a classic fairy tale she writes to Prince Charming, as a lesson to girls that they don’t need men to achieve financial success.