[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-300389-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-300389-en":131},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","financialtimes-friday-18-september-2026-briefing","FINANCIALTIMES - Friday 18 September 2026 Briefing","","Financial Times briefing dated Friday 18 September 2026 highlights shifting monetary policy expectations amid the Middle East energy crisis and rising inflation concerns. The Bank of England signals stronger rate-hike readiness while managing gilt sales and maintaining current policy, impacting bond yields and mortgage costs across major lenders. Related coverage includes inflation updates, lender pricing moves, and markets context alongside political and trade developments involving the EU and Canada.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & 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rates?","Question",{"text":63,"@type":64},"The BoE linked its message to the worsening inflation outlook, including the Middle East energy crisis, and emphasized the risk that inflation could become entrenched.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What did the BoE decide regarding its policy rate and how soon could a change come?",{"text":68,"@type":64},"The Monetary Policy Committee voted 6 to 3 to hold rates at 3.75%, while governor Andrew Bailey warned policy may have to tighten, with a rate rise potentially coming as soon as the November meeting.",{"name":70,"@type":61,"acceptedAnswer":71},"How did gilt sales and market yields affect borrowing costs?",{"text":72,"@type":64},"The BoE’s guidance on reducing long-dated gilt holdings helped lower long-term borrowing costs in the market, with the 30-year gilt yield falling and swap rates rising as pricing for loan costs 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malaiseROBERT SHRIMSLEY,PAGE 23  \nMedicalAlhype meets the messy real world  \n# Star power Carney addresses EU after Trumpvents angerover Canadian partnership drive\n\nBoE warns ofhigher ratesahead to tacklerising inflation  \n# Briefing\n\n▶Healey appeal to Brussels  \nover‘Made in Europe'push  \nWall St fears boom is over  \n▶Barclays office backlash  \n◆Gulfenergy crisis drives up prices  \n◆Overhaul of gilt sales boosts bonds  \nAddressing the worsening inflationoutlook,Baley said:“The longer thisvolatility persists,the bigger th impactit will have on inflation,and the morelikely it is that we will needto raise [the]bank rate to ensure that inflation fallsbacktoour2percent target.”  \nSAM FLEMING,IAN SMITHAND  \nThe Bank of England has given itsstrongest signal yet that it will raiseinterest rates in response to the MiddleEast energy crisis,even as it sparked abond maket rally by curbing sales oflong-datedgilts.  \n'Non-dom'tax fight lost  \nIn minutes to its latest meeting,theMPC said that given the lags at which\"second-round effects\"appeared in theeconomy,it should not wait “too long”for evidence ofinflation becoming moreentrenchedbeforeliftinginterest rates.  \nThe Monetary Policy Committee yes-terday voted six to three to hold rates at  \n3.75 per cent but governor AndrewBailey put households and businesseson notice that “policy may have totighten”,with inflation forecast to headabove 4per cent next year.  \nOpenAI reveals incidents  \nThree members of the MPC-MeganGreene,Catherine Mann and Huw Pill-voted for an immediate quarter-pointincrease.Bailey's signalling implied thata rate rise could come as soon as theBoE's November meeting.  \nBritain's biggest lenders have alreadybeen increasing the cost of fixed-ratemortgages as rising inflation,higher oilprices and aglobal bond market sell-offrattled markets.Santander,HSBC,Nationwide,Lloyds,Halifax,Barclaysand TSB raised rates this week by asmuch as 0.3percentage points,drivingup costs for borrowers and threateningto weigh on housing market activity astheautumn buyingseason begins.  \n▶HSBC axes school perk  \nThe BoEalso said itwould continue toreduce its holdings of gilts,which itacquired in successive rounds ofquanti-tative easingafterthe financialcrisis.  \nThe UK's borrowing costs fell follow-ing the announcement.The 30-year giltyield was down 0.12 percentage pointsat 5.74per cent,the market's best daysince May.Yields fall when prices rise.  \nSwaprates,whichlenders use toguidetheir pricing,rose to 4.8per cent on thetwo-year overnight rate and 4.84 percenton the five-yearrate.  \nChelsea FCstake sales  \nThe BoE will now conduct E20bn ofactive gilt sales a year until the end of  \nYesterday's BoE decision to hold ratescomes aday afterofficial figuresshowedinflation rose to 3.1 per cen in August,well above the BoE's2per cent target.  \n2034,in line with lastyear'space.  \nInvestors said the reduction in thesales of the BoE's longest-dated giltswould help to keep a lid on long-termborrowing costs.\"The longend neededsome support,which the BoE has deliv-ered,\"said Pooja Kumra,ratesstrategistat TD Securities.Under its so-calledquantitativetightening programme,theBoE has cut its holdings of debt from apeakofE895bnin2022toE488bn.Fed's Warsh defies Trumppage6Day in the markets page14  \nMark Carney addresses the European  \nIn a landmark speech,Carney cast  \nOttawatobecomethe EU's first associate member.In response to Trump's  \nparliament in Strasbourg yesterday,hours after Donald Trump suggested  \nany alliance with Brussels as a demo-cratic counterweight to mounting US  \nThe MPC has resisted raising rates inresponse to surging energy prices asit awaits further evidence that highinflationis becomingentrenched.  \ncomments,the European Commission  \nhe would consider EU approval ofCan-ada's bid for associatemembership as a  \ntrade pressure.  \nsaidstrengthening a partnership withCanada was \"not against anyone else,  \n\"I am not prop","cbCaiqVI52zuYply","https://ap.wps.com/l/cbCaiqVI52zuYply","pdf",40870539,24,"English","# Briefing\n## Rate policy and inflation outlook\n## Gilts, yields and borrowing costs\n## Mortgage pricing impact\n## International and political/business developments","[{\"question\":\"What prompted the Bank of England’s stronger signals on rates?\",\"answer\":\"The BoE linked its message to the worsening inflation outlook, including the Middle East energy crisis, and emphasized the risk that inflation could become entrenched.\"},{\"question\":\"What did the BoE decide regarding its policy rate and how soon could a change come?\",\"answer\":\"The Monetary Policy Committee voted 6 to 3 to hold rates at 3.75%, while governor Andrew Bailey warned policy may have to tighten, with a rate rise potentially coming as soon as the November meeting.\"},{\"question\":\"How did gilt sales and market yields affect borrowing costs?\",\"answer\":\"The BoE’s guidance on reducing long-dated gilt holdings helped lower long-term borrowing costs in the market, with the 30-year gilt yield falling and swap rates rising as pricing for loan costs adjusted.\"}]","FINANCIALTIMES - Friday 18 September 2026 Briefing | PDF"]