The last time the Bank approved a half-percentage point rise was in February, but that failed to nip the cost-of-living crisis in the bud. JEFF PRESTRIDGE: Customers dealt a bad hand on credit card 'holds' on hire cars, hotels and petrol pumps Fears that the Bank has lost its grip on inflation caused the cost of Government borrowing to soar last week to even higher than the Liz Truss-era levels of last autumn, when her mini-Budget of unfunded tax cuts spooked investors and caused a run on the pound. There are just over 50 participants in the SWES – including banks, insurers, central counterparties, funds managed by asset managers, hedge funds, and pension funds. We are working closely with the Financial Conduct Authority, The Pensions Regulator, and other domestic and international regulators on the SWES. SWES timeline A photo of Turing taken in 1951 by Elliott & Fry which is part of the Photographs Collection at the National Portrait Gallery.

Srinivasa Ramanujan (1887-1920) – whose incredible talent for numbers helped transform modern mathematics. James Clerk Maxwell (1831-1879) – who made discoveries which laid the foundations for technological innovations which have transformed our way of life. A table and mathematical formulae from Turing’s seminal 1936 paper “On Computable Numbers, with an application to the Entscheidungsproblem” Proceedings of the London Mathematical Society. This paper is widely recognised as being foundational for computer science. It sought to establish whether there could be a definitive method by which any theorem could be assessed as provable or not using a universal machine. It introduced the concept of a Turing machine as a thought experiment of how computers could operate. Alan Turing provided the theoretical underpinnings for the modern computer. While best known for his work devising code-breaking machines during WWII, Turing played a pivotal role in the development of early computers first at the National Physical Laboratory and later at the University of Manchester. He set the foundations for work on artificial intelligence by considering the question of whether machines could think. Turing was homosexual and was posthumously pardoned by the Queen having been convicted of gross indecency for his relationship with a man. His legacy continues to have an impact on both science and society today. AA warns drivers to avoid puddles in case they're perilous potholes after a record month of related breakdownsRegulators around the world have been scrambling to develop new tools to monitor this burgeoning sector, which has grown dramatically since the financial crisis in 2008 and now makes up around half of global assets. On 10 November 2023 the Bank launched Round 1 of the scenario phase of the SWES. During the scenario phase, we are asking SWES participants to consider the impact of a hypothetical stress scenario, tell us how it would impact their business, and the actions they would take in response. We aim to use participants’ submissions to understand how their actions and behaviours during a stress could affect wider UK financial stability, particularly the resilience of the core UK SWES markets of focus.

That provoked mortgage lenders to rush to hike the interest rate on home loans, while Bailey admitted it would take 'a lot longer than we expected' for headline inflation to fall from its current 7.8 per cent. Dorothy Crowfoot Hodgkin (1910-1994) – whose research using x-ray crystallography delivered ground-breaking discoveries which shaped modern science and helped save lives. However, stress tests earlier this year indicate that banks would withstand a “severe macroeconomic downturn”. The Automatic Computing Engine (ACE) Pilot Machine which was developed at the National Physical Laboratory as the trial model of Turing’s pioneering ACE design. The ACE was one of the first electronic stored-program digital computers.Radio 4 broadcaster Paul Lewis tells ME & MY MONEY: My whole pension is in CASH and not shares... after all I am Mr Money Box BUSINESS LIVE: EasyJet flags impact of Middle East crisis; Rolls-Royce lifted by civil aerospace growth; Pets at Home profits hurt by logistics costs BUSINESS LIVE: EasyJet cautious on winter outlook; Rolls-Royce lifted by aerospace; Pets at Home profits...

The Banknote Character Advisory Committee, with the help of public focus groups, created a shortlist of 12 options. These were: Rosalind Franklin (1920-1958) – who drove the discovery of DNA’s structure, a critical breakthrough in our understanding of the biology of life. Ernest Rutherford (1871-1937) – who uncovered the properties of radiation, revealed the secrets of the atom and laid the foundations for nuclear physics. The launch of the note will stand as one of the most prominent changes for royal symbols since the death of the Queen in September; alongside new coins, stamps and the king’s CR monogram to be used on state documents and postboxes. The FPC also voiced worries over vulnerabilities in the market-based finance sector, often known as shadow banking. Market-based finance includes a wide range of different financial institutions including insurance firms, pension funds, hedge funds and money market funds (MMFs).A quote from Alan Turing, given in an interview to The Times newspaper on 11 June 1949: “This is only a foretaste of what is to come, and only the shadow of what is going to be.”

William (1738-1822) and Caroline Herschel (1750-1848) – a brother and sister astronomy team devoted to uncovering the secrets of the universe. You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action. Are you winter driving ready? Our 10 tips to prepare your car for freezing temperatures and icy roads

Sandra Horsfield, economist at investment bank Investec, said such a move would be 'aggressive' and there was 'little sign the medicine was taking effect' in taming the inflationary wage-price spiral. Currently the Bank intends to launch Round 2 of the scenario phase in 2024 Q2 and expects the SWES to conclude in 2024 Q4. Results and publications Stephen Hawking (1942-2018) – who made outstanding contributions to our understanding of gravity, space and time. From space to book festivals - SARAH HARTLEY looks at 20 hidden gems buried in the Autumn Statement