Scott Bessent, Trump's pick to guard America's financial system as treasury secretary, once helped orchestrate a huge trade against the British pound, which some say "broke" the Bank of England.

The Bank of England cut interest rates Thursday for the first time since the start of the pandemic, providing some relief to households squeezed by the highest borrowing costs in 16 years.

The Bank of England on Thursday lowered its interest rates for the second time this year as the U.K. central bank responds to cooling inflation and signs of a slowing economy. The 5-to-4 decision ...

The Bank of England cut interest rates on Thursday in a move likely to bring relief to borrowers, businesses and hard-pressed consumers across the country. Stream NBC 5 for free, 24/7, wherever ...

Then 29 years old, Mr. Bessent, working for the financier George Soros, helped “break” the Bank of England with crushing trades against the British pound. He was on a small team at Mr. Soros ...

LONDON, March 20 (Reuters) - The Bank of England held interest rates at 4.5% and warned against assumptions that they would be cut over its next few meetings as it grappled with deep uncertainty ...

LONDON (Reuters) -The Bank of England has proposed raising the protection limit for savers in case a bank fails to 110,000 pounds ($142,300), it said on Monday. The deposit protection limit is the ...

LONDON, May 8 (Reuters) - (This May 8 story has been corrected to say two-thirds of the impact is due to the direct effect of tariffs on demand for UK imports, not because of weaker global growth ...

LONDON (Reuters) -The Bank of England is poised to extend its slow run of interest rate cuts on Thursday with investors watching for any signs that it could soon pick up the pace as U.S. President ...

A top Bank of England official has played down the chances of a string of interest rate cuts despite mounting job losses. Just hours after official figures showed unemployment at a four-year high ...