‘Broken’ after the deaths of three women, Ballarat embarks on an Australian-first trial to combat gender-based violence
Bank of England holds interest rates at 4% and slows scheme to sell stock of UK bonds
The Bank of England has left interest rates on hold at 4% and will slow the pace of its “quantitative tightening” programme in the year ahead to avoid distorting jittery government bond markets.The central bank’s nine-member monetary policy committee voted 7-2 to leave borrowing costs unchanged, after five cuts since summer 2024, including a reduction last month.The MPC had been widely expected to pause rate cuts this month as annual inflation remained at 3.8% in August, nearly double the target level.The Bank’s governor, Andrew Bailey, said: “Although we expect inflation to return to our 2% target, we’re not out of the woods yet so any future cuts will need to be made gradually and carefully
The Federal Reserve’s independence is about to be tested like never before
The time has come to ban the “revolving door” between the White House and the Federal Reserve, two academics argued last year. Doing so would be “critical to reducing the incentives for officials to act in the short-term political interests of the president”, they wrote.Eight months ago, the two writers – Dan Katz and Stephen Miran – joined the Trump administration in senior roles. On Tuesday, Miran, the chair of the US Council of Economic Advisers, walked into the Fed as a governor.Strolling through the revolving door himself, Miran pledged during his confirmation hearing to preserve the Fed’s independence, but made clear he would not resign from the White House, just take unpaid leave
Tax rises in, two-child limit out: what Resolution Foundation’s boss is urging Reeves before budget
“She clearly has to fix the problem. I think it’s one thing to come back twice. We don’t want to be here a third time.” Bluntness served Ruth Curtice well in her past life as a senior Treasury official. These days, she deploys it publicly, as chief executive of the Resolution Foundation – urging Rachel Reeves to think the unthinkable before November’s crunch budget
Are the stars finally aligning for the ‘new golden age’ of nuclear? | Nils Pratley
Presidential visits, like investment summits, involve a blizzard of claims about companies set to spend squillions in the UK. Some “commitments” are merely extrapolations of current trends. Some can be filed under “believe it when you see it”. Some involve throwing everything into the mix and producing an implausibly precise number for the “economic value” to the UK. A few pledges are genuinely new, but scepticism should be the default setting
Federal Reserve cuts interest rates by a quarter point, for first time in nearly a year – as it happened
The Fed just announced an interest rate cut by a quarter point, which was largely anticipated amid a weakening labor market.This is the first time the Fed has cut rates since December 2024. Rates now stand at a range of 4% to 4.25%, the lowest since November 2022.Stay tuned for a press conference Fed chair Jerome Powell is expected to give at 2
Federal Reserve cuts US interest rates for first time since December
The US Federal Reserve cut interest rates on Wednesday, its first rate cut since December, as the central bank moved to stabilize a wobbling labor market even as Donald Trump’s tariffs continue to push up prices.Rates are now at a range of 4% to 4.25% – the lowest since November 2022. But the decision is unlikely to satisfy Trump, who has lambasted the Fed for acting “too late” and called for a far bigger cut.“Job gains have slowed and the downside risks to unemployment have risen,” Fed chair Jerome Powell said during a closely watched press conference
Left smouldering for a decade, the Hawthorn v Geelong rivalry is about to fire up | Martin Pegan
World Athletics Championships 2025: McLaughlin-Levrone wins women’s 400m, Kebinatshipi takes men’s title –as it happened
Gout Gout misses out on 200m final but says better performances are ‘coming’
Hannah Botterman fit to face France in semi-final after fearing her World Cup was over
Tom Brady’s jaunt into the Raiders’ coaching booth exposed an NFL blind spot
Enhanced Games targets British stars after signing US sprinter Fred Kerley