Bank of England

UK consumer borrowing grows at fastest pace since 1993, Bank of England says

Released record borrowing figures; markets price a November rate hike

British households borrowed £2.46 billion in unsecured credit during August, the largest monthly total since the Bank of England began tracking the figure in 1993. Credit card balances grew 13.3 percent from a year earlier, while personal loans and car finance rose 7.9 percent.

Updated 7 days ago

UK banks complete first interbank transactions using tokenised deposits

New Capabilities

Prefers tokenised deposits over stablecoins

Seven of Britain's biggest banks moved money between themselves using tokenised deposits for the first time on September 24. The transactions—two remortgage completions and a simulated online marketplace purchase—ran on a shared blockchain platform built by Quant for UK Finance's Great British Tokenised Deposit project.

Updated Sep 24

Dutch central bank moves 86 tonnes of gold out of US and Canada citing geopolitical unrest

Money Moves

Recipient of relocated Dutch gold

For decades, European central banks stored gold in New York because it was safest there. The Dutch central bank just moved 86 tonnes of it out, citing 'increasing geopolitical unrest.'

Updated Sep 6

Global financial regulators scramble to assess cybersecurity risks from Anthropic's Mythos AI model

New Capabilities

Scheduling emergency CMORG meetings on Mythos risks with UK financial sector

An AI model that can find software flaws no human has caught in nearly three decades has triggered a coordinated response from central banks across the Western world. Anthropic's Claude Mythos Preview discovered thousands of previously unknown vulnerabilities in every major operating system and web browser, prompting Treasury and Federal Reserve to summon Wall Street executives to Washington on April 8. By April 11, the Bank of England, Bank of Canada, and their respective financial regulators had convened or scheduled their own emergency sessions with banks.

Updated May 31

Bank of England cuts to 3.75%—one vote, two stories, and a fight over what “neutral” means

Money Moves

Cut Bank Rate to 3.75% but signaled the easing path is narrowing

This cut had courtroom drama energy. The Bank of England dropped rates to 3.75%—but only because Governor Andrew Bailey switched his vote and made it 5–4. The immediate market read was hawkish-by-UK-standards: sterling rose and gilt yields ticked higher as traders pared back expectations for rapid 2026 easing.

Updated May 15