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Bank of England hold interest rates at 4% amid inflation concerns – live

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Bank of England hold interest rates at 4% amid inflation concerns – live


Bank of England to announce interest rates decision

Just a few minutes to go and then we’ll hear the latest.

Typically, what follows is a bit more discourse on wider economic policy, questions to some of the MPC members on their voting stance and some other aspects of the announcement.

We’ll bring you the consumer-focused element of that, plus reaction from lenders, industry experts and what it all means for you going forward.

Karl Matchett18 September 2025 11:56

Interest rates: From 0 to 5.25% – and back again?

Here’s the interest rates chart over the last 3.5 years from the Bank of England. Remember a time we were at 0.1%?!

Nobody really expects that to happen again any time soon, even if inflation stabilises and rates drop to a more neutral level.

But, also, we’re down some distance from the 2023/24 highs of 5.25 per cent, which caused real shocks for mortgage repayments and loans on variable rates.

Five cuts have happened since then, three this year.

A fourth today would be an extraordinary surprise – but perhaps, we could still see one in December.

(Bank of England)

Karl Matchett18 September 2025 11:50

Will interest rates go down today?

We’re approaching time for the Bank of England’s interest rates vote announcement and reaction to that, so let’s have a quick check in on what to expect.

Here’s what’s happening and what it will mean for you:

Karl Matchett18 September 2025 11:40

LISA reform on the agenda

Continuing with the data around ISAs, today’s figures show 87,250 people used their Lifetime ISA (LISA) to buy their first home in 2024-25 – that’s up 53.7% from the previous tax year, say money managers Nutmeg.

However, the rate of penalties for early withdrawal also increased across LISAs.

Claire Exley, head of financial advice and guidance at Nutmeg, says that should open debate once more to ensure savers aren’t punished due to increased housing costs and frozen thresholds.

“The Treasury received over £100 million from early LISA withdrawal penalties for the first time, a 35% increase from the previous tax year and the second year in a row it has risen.

“Whether it is rising house prices which have put properties beyond the LISA house price cap or a change in life circumstances that means people need the money in their LISA, more savers are handing over their savings to pay the exit penalty.

“While some friction to withdrawals helps consumers remain focused on goals, there should be a mechanism which ensures the Government gets back any bonus paid to LISA savers but does not excessively harm those who can no longer use a LISA or whose life circumstances change.

“While some are debating the future of the LISA, this data shows that it remains a well-loved and powerful tool for younger savers to accumulate wealth and get on the property ladder.”

Karl Matchett18 September 2025 11:20

Cash ISAs continue to rise – expert advises investing instead

An ongoing theme this: cash ISAs are in use more than ever, but so much money is in them that people could be investing instead to generate far better returns for the long term.

Around 5m people have between £10k and £20k in their cash ISA – it’s recommended for most people that having four months’ costs in a savings account is an ideal buffer. Beyond that, consider investing to help your reach your goals.

A total of around £360bn is thought to now be in cash ISAs.

Claire Trott, head of advice at St. James’s Place, said:

“Today’s HMRC figures are the latest indication that the UK population is over-saved and under-invested. While a cash buffer is important – and no doubt brings comfort to savers, promising safe, guaranteed returns – individuals who chose a cash ISA over a stocks and shares ISA could be missing out on hundreds of thousands of pounds over the long term.

“For individuals saving for long-term goals the cash ISA approach can be risky. As shown by our analysis, inflation can quickly and substantially erode the real value of cash savings.

“Ultimately, those wanting to reap the rewards of their finances over the long term need to be invested in the market. While short term fluctuations and market volatility may deter risk averse savers, history shows that staying invested over time has consistently offered far greater potential for growth, and protected wealth against inflation.

“For those nervous about investing without guidance, speaking to a financial adviser can be a great way to get started, and can provide confidence you’re making the best decisions over the long term.”

Karl Matchett18 September 2025 11:00

Holdings interest rates means repayments, mortgage rates and other costs might not go any higher – but it also means those already struggling with cost of living expenses and rampant inflation will get no relief.

That becomes a real consumer concern as winter and Christmas come closer, says Tamsin Powell, consumer finance expert at Creditspring.

“Although markets are predicting the Bank of England will hold rates, many households will continue to feel the strain of tight budgets. With unemployment at 4.7% and living costs remaining high, day-to-day budgets are under pressure, and borrowing – whether for loans or mortgages – is still expensive.

“Winter is just around the corner, and for many, Christmas will bring additional financial strain. Rising heating bills, combined with the 2% increase in the energy price cap from the 1st of October, mean millions of households will have less money to cover essentials and unexpected costs.

“While stable rates may prevent extra repayment pressure, they don’t provide relief for those already stretched.”

Karl Matchett18 September 2025 10:45

BoE may adjust QT programme

One of the questions the BoE will answer today, aside from interest rates, is on the matter of quantitive tightening programme.

In simple terms, this is the rate at which it’s selling bonds bought during periods when the government needed additional money, such as during the Covid pandemic.

However, selling at the rate it has been has contributed to lowering bond prices, which in turn pushes up bond yields – which for the government means “borrowing costs”.

In other words, the government has to pay back more money when the Bank is selling bonds at such a rate.

Therefore we may get an update on that today.

Karl Matchett18 September 2025 10:31

How much a young person in the UK needs to save in order to retire comfortably

The analysis was conducted by investment and insurance company Shepherds Friendly, using average UK household spending rates, common debt, and a recommended six-month emergency fund.

The investigation also factored in 25 years of rising costs at 2.88 per cent annual inflation and a 5 per cent annual return on savings or investments, to reveal exactly how much would be needed today to enjoy 25 years of financial freedom in retirement.

Karl Matchett18 September 2025 10:00

FTSE 100 rises ahead of Bank of England interest rate vote

With the BoE expected to hold rates at 4% today, UK stocks have risen in early morning trading.

The FTSE 100 is up 0.23 per cent so far, though remains down for the week after a subdued couple of days.

Pest control firm RELX is the leader, up 2.75 per cent, while retailer Next is down 5.7 per cent after its profit release this morning, citing slowing or no growth to come.

Next remains up more than 19 per cent this year, however.

Karl Matchett18 September 2025 09:40

Next delivers profit boost, but cautions over ‘anaemic’ UK economic growth

Next has notched up a surge in half-year profits, but warned UK sales will be weighed on by “anaemic” economic growth and a faltering jobs market as the Government’s tax hike takes its toll.

The fashion and homewares group reported a 13.8% rise in underlying pre-tax profits to £515 million for the six months to the end of July as total full-price sales lifted 10.9%.

But it cautioned that UK sales growth will pull back sharply.

Chief executive Lord Simon Wolfson said: “The medium to long-term outlook for the UK economy does not look favourable.

“To be clear, we do not believe the UK economy is approaching a cliff edge.

“At best we expect anaemic growth.”

Karl Matchett18 September 2025 09:20



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‘KPop Demon Hunters’ is boosting more than just Netflix: Korean music, politics ride the craze

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‘KPop Demon Hunters’ is boosting more than just Netflix: Korean music, politics ride the craze


At South Korea’s largest amusement park, crowds of people wait for hours to be a part of the “KPop Demon Hunters” craze.

U.S. streaming giant Netflix, the distributor of the Sony Pictures Animation film, has collaborated with the Everland park outside of the capital city Seoul to create a themed zone featuring whack-a-mole, dance games and snacks from the movie.

It’s the latest iteration of the “KPop Demon Hunters” frenzy as the film takes Netflix by storm — and delivers a boost to the $10 billion K-pop music industry along with it.

Netflix said in August that “KPop Demon Hunters” had become the most popular Netflix film ever. In October, the streamer said “KPop Demon Hunters” had exceeded 325 million views. 

The company has sought to capitalize on the popularity, offering two limited-window theatrical screenings for the film and striking consumer product deals with Hasbro and Mattel to get “KPop Demon Hunters” toys and merch on shelves.

Agnes Lee helped cast the movie and scout locations from Seoul as an associate producer for the film. 

“K-pop and K-culture was such a huge and important part of this movie,” Lee told CNBC in Seoul. “We wanted to be authentic.”

Once popular mainly in Asia, K-pop music has become a global phenomenon. Artists like PSY, who shot to international stardom in 2012 with his viral music video “Gangnam Style,” put an international spotlight on K-pop. PSY’s hit song became YouTube’s most-watched video that year. 

Since then, other K-pop acts have run up impressive numbers, too. BTS’ song “Dynamite” has exceeded 2 billion streams on Spotify. BLACKPINK’s 2023 tour became the highest-grossing by a female group on record, according to stats at the time from Touring Data.

Now, even “KPop Demon Hunters'” fictional bands are topping the global music charts.

Audrey Nuna, EJAE and Rei Ami attend the KPop Demon Hunters Special Screening at Netflix Tudum Theater on June 16, 2025 in Los Angeles, California., U.S.

Charley Gallay | Getty Images Entertainment | Getty Images

“I think people watched ‘KPop Demon Hunters’ in spite of that ‘K-pop’ in the title. And then, after watching it, they realized, ‘Oh, wow. I’m a K-pop fan,'” said Danny Chung, a K-pop producer and the voice of the film’s character, Baby Saja. “And now there’s a whole back catalogue of three decades of K-pop music that they have to dive into.”

And there’s plenty more to come: BLACKPINK is expected to release a new album. BTS is planning a comeback in 2026 after members of the band completed South Korea’s mandatory military service. 

Enthusiastic investors have pumped up the stock prices of South Korea’s “Big Four” K-pop companies. Shares of HYBE, JYP Entertainment, SM Entertainment and YG Entertainment are all up double-digits year to date. YG is up more than 100%.

The impact of the film’s rise may not stop at music.

“The breakout success of ‘KPop Demon Hunters,’ which could become one of Netflix’s most-watched content items, underscores K-content phenomenon in global market,” Mirae Asset Global Investments said in an Oct. 19 report. “We believe this cultural boom is a key catalyst driving increased international consumption of Korean cosmetics and food products such as noodles.” 

On the political front, speculation is high that China, which blocked K-pop and other South Korean cultural exports under President Xi Jinping’s campaign to promote what Beijing considers proper socialist values, could soften its restrictions.

The countries’ presidents had a positive meeting on the sidelines of the APEC summit in Gyeongju, South Korea.

“We continue to see K-pop as a direct beneficiary of thawing Korea-China relations,” Mirae said.



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EU-India Boost Clean Energy And Climate Partnership With New Industrial Transition Push: EU Diplomat

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EU-India Boost Clean Energy And Climate Partnership With New Industrial Transition Push: EU Diplomat


New Delhi: The European Union and India are deepening cooperation in clean energy, climate action, and industrial decarbonisation through initiatives like the Industrial Transition Accelerator (ITA), launched in India ahead of COP30 to help industries adopt green technologies and cut emissions, Bartosz Przywara, Counsellor for Energy, Climate Action and Environment, European Union delegation to India told ANI today.

 

“We have very strong cooperation in the area of clean energy and climate transition,” Przywara told ANI in an exclusive interview on the sidelines of the Industrial Transition Accelerator (ITA) event in New Delhi.

 

The event marked an opening of the new implementation phase of the project for India, Przywara said.

 

“It’s basically a project which facilitates the Indian industry especially those sectors which are hard to abate to adopt new technology, get financing, and get into this path of decarbonisation. And we as the European Union, of course, we are supporting this path.”

 

He said the EU’s support aligns with India’s broader sustainability agenda.

 

“We are doing something quite similar here in India, having a lot of projects and activities together with the Indian government and business associations, which aim basically at the same purpose,” he said, calling the collaboration “very successful.”

 

A key focus of the EU-India partnership, Przywara said, is proving that economic growth and emissions reduction can go hand in hand.

 

“There is a clear decoupling it is possible technologically and economically to grow while at the same time cutting emissions,” he said. Citing the EU’s record, he added,

 

“In the European Union, we have been growing by 68% over this period from 1990 to 2023, and at the same time we managed to cut our emissions by 38%. So India can do it as well.”

 

Przywara highlighted the EU-India Clean Energy and Climate Partnership, which has been active since 2016.

 

“It has been existing for the last nine years. We have done literally hundreds of events and activities, talking to the Indian government, exchanging best practices, and helping in establishing legislation in the area of green transition,” he said.

 

He also pointed to other initiatives such as the EU-India Climate Dialogue, where both sides discuss pathways to decarbonisation and carbon market development.

 

“The European Union has the oldest and biggest carbon market in the world–we have 20 years of experience running it, and now we are very happy to share those experiences with India,” Przywara said.

 

On industrial decarbonisation, he mentioned EU support for the Leadership Group for Industry Transition (LID-IT), an initiative co-founded by India and Sweden.

 

“It already involves 18 different countries and multiple industrial entities all around the world,” he said, describing it as a key multilateral effort to cut industrial emissions.

 

Przywara said that both sides are expected to further strengthen ties following recent high-level engagements.

 

“At the beginning of this year, the College of Commissioners visited India and held very positive discussions with the Indian government. Recently, the European Commission and High Representative for Foreign Policy issued a joint communication about the new EU-India agenda for the future,” he said.

 

He added that both partners are optimistic about a potential summit soon to “confirm and elevate” cooperation.

 

“We really have a lot to do together in the area of clean energy, climate, decarbonisation, and green transition,” Przywara said.

 

During the same event, Sumit Gupta, Managing Director and Senior Partner, Boston Consulting Group (BCG) told ANI today that India is well-positioned to lead the global green transition due to its low cost of renewable energy, strong industrial base, and growing innovation ecosystem.

 

“We’ve outlined the key challenges that these projects face and what needs to come together to actually make the transition happen whether it’s innovative financing, access to capital, technology innovations aligned with market needs, or effective project execution,” Gupta said during an exclusive interview with ANI on the sidelines of the Industrial Transition Accelerator (ITA) event.

 

“The question is how to get the right ecosystem of partners to execute these projects from paper to plant.”

 

He highlighted that India’s low cost of renewable energy offers a major advantage. “We have one of the lowest costs of energy in the world, which is a key enabler of the green transition,” he noted.

 

 

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Alan Bates to get multi-million-pound payout over Post Office saga

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Alan Bates to get multi-million-pound payout over Post Office saga


Post Office campaigner Alan Bates has agreed a multi-million pound compensation figure from the Post Office, sources close to the deal have confirmed to the BBC.

The payout for Sir Alan comes more than 20 years after he started campaigning for justice for victims of the Horizon scandal which led a group of 555 sub-postmasters launching landmark legal action against the Post Office.

The exact sum paid to Sir Alan has not been made public and he has not responded to requests for comment.

Between 1999 and 2015, more than 900 sub-postmasters were wrongly prosecuted after the faulty Horizon IT system indicated shortfalls in Post Office branch accounts.

Hundreds more poured their own savings into their branch to make up apparent shortfalls in order to avoid prosecution.

Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.

A spokesperson for the Department for Business and Trade said: “We pay tribute to Sir Alan Bates for his long record of campaigning on behalf of victims.

“We can confirm that Sir Alan’s claim has reached the end of the scheme process and been settled.”

As of September 2025, a total of £1.23bn had been awarded to more than 9,100 sub-postmasters.

Sir Alan first received an offer of redress in January 2024, which he rejected, describing it as “cruel and derisory”.

He was made another offer in May 2024 which he said was around a third of what he had requested. In May of this year, he said that he’d received a third offer for less than 50% of his original claim.

Sir Alan was part of the Group Litigation Order compensation scheme, under which claimants can either receive £75,000 or seek their own settlement.

As part of plan to claim his own settlement, Mr Bates told the BBC his lawyers had included compensation owed for his 20 years of campaigning for justice for those sub-postmasters caught up in the scandal.

The Post Office/Horizon scandal reached new heights in the public consciousness last year after Sir Alan’s campaign for justice was portrayed in the ITV drama series Mr Bates vs the Post Office.

The government adopted all but one of the recommendations of a report published following an inquiry into the scandal.

The inquiry detailed the full human impact of the scandal for the first time: the report said that more than 13 people may have taken their own lives as a result of what happened to them.

Earlier this year, Sir Alan accused the government of putting forward a “take it or leave it” offer of compensation amounting to less than half of his claim.

Many victims have previously complained about being forced to accept low offers of compensation, without the benefit of legal help.

Last month, the government announced that all victims who are claiming compensation will now be entitled to free legal advice to help them with their offers.

There are four different compensation schemes, which are aimed at different groups of victims.

Individual eligibility for compensation depends on the particular circumstances of each case.

However, the schemes have been criticised for being too slow and complicated, with many of the worst-affected victims receiving far less than their original claims.



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