BofA: Investment banking and sales & trading revenue declined, but commercial loans increased across every client segment.

Bank of England Governor Bailey said over-reliance on forward guidance has left the central bank unable to take unconditional policy measures.

UK chancellor John Healey plans to fund all new fiscal measures in the Oct. 28 budget — including cost-of-living support — through tax increases or cuts to other public spending rather than additional borrowing, people involved in the budget said. The package is expected to deliver a net positive fiscal accounting impact in 2029–30, the final year of the parliamentary term, ensuring discretionary measures are fully financed. Healey welcomed the IMF’s World Economic Outlook, which urged fiscal discipline and praised the UK’s fiscal consolidation progress.