Bank of England likely to go for a bigger than 75-bp rate hike: Report

Whether the Bank of England delivers a 75-basis-point increase in interest rates on November 3 or goes for an bigger lift to tamp down inflation is a close call among economists polled by Reuters . Rising borrowing costs are part of a cost of living crisis hammering consumer spending as Sunak becomes Britain’s third PM in less than two months in one of the most turbulent periods in British political history. A new budget is due to be published on October 31. Some contributors declined to participate in the poll, taken largely before Sunak’s appointment, following the political and economic turmoil as they are waiting for details.  

Ryanair boss hails the exit of Brexiteers
 

Ryanair boss Michael O'Leary hailed the appointment of Sunak as PM, saying he was glad the ‘Brexiteer wing’ of government was on its way out and calling for a trade deal with Europe. He said he was glad ‘adults have taken charge again’. “They are getting rid of some of the people who were there, from Johnson to Truss, all the Brexiteer wing of the Tory party - they are crazies," the chief executive of Ryanair told Reuters.