The Bank of England's Prudential Regulation Authority clarified its expectations around business conducted within branches of international banks in Britain, introducing a new threshold around deposits covered by the UK's compensation scheme.

Regulators view large deposits which are not covered by guarantee schemes as more risky sources of funding for banks as they are more likely to be withdrawn at the first sign of a crisis. The BoE added that less than £100mn of SVB’s UK deposits were covered by the FSCS guarantee schemes.

Any kind of trade deal will help limit the damage to the U.K. from President Trump's tariffs, said Bank of England Gov. Andrew Bailey, who added that he hadn't been briefed on the contents of the coming agreement.

Bank of England interest rate-setter Catherine Mann said she voted to keep borrowing costs on hold last week - having sought a big 50-basis point cut in February - because Britain's labour market had been more resilient than she expected.

The chief economist of the Bank of England has warned interest rates have been falling too quickly as the rate of inflation continues to exceed the bank's 2% target.

The cut to interest rates comes as the Bank of England slashed its base rate by 0.25 percentage points to 4.25% earlier this month. On the day, savers were immediately warned about the impact the move

Policymakers and taxpayers are counting the cost of Britain’s quantitative easing experiment

UK consumers reined in their spending due to 'limited cash availability' in May and continued to draw down their savings, research found.