Business news live: Bank of England reveals tariffs impact on interest rates and TSB could depart the high street

By Karl Matchett

Business news live: Bank of England reveals tariffs impact on interest rates and TSB could depart the high street

The Bank of England governor Andrew Bailey believes that interest rates in the UK are still on a 鈥渄ownward path鈥 and has acknowledged that the uncertainty caused by trade tariffs means businesses are even more cautious about spending. In turn, while the overall impact from them is still yet to be seen, Mr Bailey says tightening rates further could be more harmful.

Elsewhere, reports over Tuesday evening suggested the London Stock Exchange鈥檚 biggest firm, AstraZeneca, could push for a move in its listing to the US, with the chief executive frustrated by the current environment. The pharmaceutical firm has a market capitalisation of just under 拢160bn.

Meanwhile, savers are feeling the heat from more than one angle right now, with cash ISA limits set to be cut, reform coming to Lifetime ISAs and interest rates expected to drop in August.

Follow The Independent鈥檚 live coverage of the latest stock market and business news here

Read More…