The central bank said that future cuts would be gradual after spending increases were introduced in the government’s new budget.

The Labour Party is betting that extra spending on public services and more investment will eventually revitalize the country’s stagnant economy.

Rachel Reeves, the new finance minister, announced substantial tax increases in her first budget as she sought to strengthen public finances and services.

The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its...

The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its...

Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.

Investors now expect the European Central Bank to lower interest rates at its next meeting in October.

The British central bank has emphasized its intention to move steadily to ensure that inflation continues to slow.

Inflation has fallen in most developed nations, and central bank officials are now trying to steer their economies toward a so-called soft landing.

For the second time in five years, the parent company of the shipyard in Belfast, Northern Ireland, will enter administration, with Royal Navy contracts in...