The governor of the Bank of England has told Sky News he expects the next interest rate move to be a cut.
Andrew Bailey was speaking shortly after the Bank forecast that inflation could ease to its 2% target within a few months.
However, it opted to hold borrowing costs at 5.25% for the fourth time in a row at its latest meeting.
One member of the Bank‘srate-setting Monetary Policy Committee (MPC) voted for a cut in its base-level interest rate for the first time since the pandemic.
Britain’s central bank signalled that it was now edging closer to reducing the rate, as it dropped language about the potential need for further hikes from the minutes of its meeting and did not push back against widespread expectations that it will begin cutting later this year.
That was despite continued caution over the outlook for the pace of price increases.
In response to the question how long interest rates should be at this level, Mr Bailey responded: “The decision, unless the world changes, and of course unfortunately the world does change and particularly at the moment, the next decision is more likely to be when do we cut.”
He added: “We haven’t reached a view on when that will be.”
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In a further sign that it is beginning to consider lowering the rate, the nine-member committee was split three ways, with one member, Swati Dhingra, voting for a cut, two members voting for higher rates and the remaining six members favouring a hold.
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Sky News speaks to BoE governor
It is the first time since March 2020 that a member has voted for lower rates, and the first time since March 2008 that the committee was split three ways over whether to raise, lower or hold.
Investors currently anticipate that the Bank will begin cutting rates in the middle of the year, reducing them to just over 3% by 2026.
The Bank’s forecasts did little to dissuade them that these cuts are coming, though Mr Bailey said the moment had not yet come.
He pointed to the fact that while the consumer price index measure of annual inflation is set to drop to 2% in April, it will later bounce back, mostly due to energy costs.
He said: “Today we’ve decided to hold interest rates at 5.25%. We have had good news on inflation over the past few months. It has fallen a long way, from 10% a year ago to 4%.
“But we need to see more evidence that inflation is set to fall all the way to the 2% target, and stay there, before we can lower interest rates.”
The Bank upgraded its forecasts for gross domestic product (GDP) growth in the coming years, projecting annual growth rates of 0.5% by early next year (compared with a previous forecast of zero growth), 0.8% by early 2026 (compared with 0.6%) and 1.5% by early 2027.
However, it said that it expected only zero GDP growth in the final quarter of last year – implying (since the previous quarter was a contraction) that there is a near 50:50 chance of the UK facing a technical recession.
The Bank’s economists reckon that around two-thirds of the impact of higher interest rates has now fed through to the wider economy, but more than two million households are still due to see their mortgagesrefix to higher rates in the coming months.
Patients are dying in corridors and going undiscovered for hours while the sick are left to soil themselves, nurses have said, revealing the scale of the corridor crisis inside the UK’s hospitals.
In a “harrowing” report built from the experiences of more than 5,000 NHS nursing staff, the Royal College of Nursing (RCN) found almost seven in 10 (66.81%) say they are delivering care in overcrowded or unsuitable places, including converted cupboards, corridors and even car parks, on a daily basis.
Demoralised staff are looking after as many as 40 patients in a single corridor, unable to access oxygen, cardiac monitors, suction and other lifesaving equipment.
Women are miscarrying in corridors, while some nurses report being unable to carry out adequate CPR on patients having heart attacks.
Sara (not her real name) said she was on shift when a doctor told her there was a dying patient who had been waiting in the hospital’s corridor for six hours.
“It took a further two hours to get her into an adequate care space to make her clean and comfortable,” she told Sky News.
“That’s a human being, someone in the last hours of their life in the middle of a corridor with a detoxing patient vomiting and being abusive behind them and a very poorly patient in front of them, who was confused, screaming in pain. It was awful on the family, and it was awful on the patient.”
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Dead patients ‘not found for hours’
A nurse working in the southeast of England quit her job after witnessing an elderly lady in “animal-like conditions”.
She told the RCN: “A 90-year-old lady with dementia was scared, crying and urinating in the bed after asking several times for help to the toilet. Seeing that lady, frightened and subjected to animal-like conditions is what broke me.
“At the end of that shift, I handed in my notice with no job to go to. I will not work where this is a normal day-to-day occurrence.”
Another nurse in the South East said a patient died in a corridor and “wasn’t discovered for hours”.
Sara told Sky another woman needed resuscitating after the oxygen underneath her trolley ran out. Sara was one of just two nurses caring for more than 30 patients on that corridor.
“I have had nightmares – I have a nightmare that I walk out in the corridor and there are dead bodies in body bags on the trolleys,” she said, growing visibly emotional.
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One nurse, who spoke to Sky News, said the conditions were “undignified” and “inhumane”.
“It’s not just corridors – we utilise chairs, cupboards, whatever space is available in the hospital to be repurposed into a care space, in the loosest sense of that term. These spaces are unsafe.”
Some spaces, she said, don’t even have basic electricity for nurses to plug in their computers.
The nurse, who spoke to Sky on the condition of anonymity, said she has experienced burnout multiple times over the state of her workplace.
“I have come to the conclusion this week I don’t think I can continue working in the NHS or as a nurse,” she said.
“It breaks my soul; I love what I do when I am able to do it in the right way. I like caring for people, I like making people better, I also like providing a dignified death.”
She added: “I want to look after the institution I was born into, but for the sake of my family and my mental health, I don’t know how much more I can give.”
With 32,000 nursing vacancies in England alone, data also shows around one in eight nurses leave the profession within five years of qualifying.
Staff ‘not proud of the care they are giving’
The Royal College of Nursing (RCN) says the testimony, which runs to over 400 pages, must mark a “moment in time”. In May 2024, the RCN declared a “national emergency” over corridor care in NHS services.
Professor Nicola Ranger, RCN general secretary and chief executive, said: “At the moment, [nursing staff] are not proud of the care they are giving.”
“We hear stories of escalation areas and temporary beds that have been open for two years,” she added. “That is no longer escalation, it’s understaffed and underfunded capacity that is pretty shocking care for patients. We have to get a grip on that.”
“The NHS used to be the envy of the world and we need to take a long hard look at ourselves and say ‘what needs to change?’
“The biggest concern for us is that the public Is starting to lose a little faith in their care, and that has to stop. We absolutely have to sort this out.”
Commenting on the RCN’s report, Duncan Burton, chief nursing officer for England, said the NHS had experienced one of the “toughest winters” in recent months, and the report “should never be considered the standard to which the NHS aspires”.
“Despite the challenges the NHS faces, we are seeing extraordinary efforts from staff who are doing everything they can to provide safe, compassionate care every day,” he added. “As a nurse, I know how distressing it can be when you are unable to provide the very best standards of care for patients.”
Have you experienced corridor care in an NHS hospital? Get in touch on NHSstories@sky.uk
A 62-year-old British woman has died in the French Alps after colliding with another skier, according to local reports.
The English woman was skiing on the Aiguille Rouge mountain of Savoie at around 10.30am on Tuesday when she hit a 35-year-old man who was stationary on the same track, local news outlet Le Dauphine reported.
It added that emergency services and rescue teams rushed to the scene but couldn’t resuscitate the woman, who died following the “traumatic shock”.
The man she collided with was also said to be a British national.
Local reports said the pair were skiing on black slopes, a term used to describe the most challenging ski runs with particularly steep inclines.
A spokesperson for the Foreign, Commonwealth and Development Office told Sky News: “We are supporting the family of a British woman who died in France and are in touch with the local authorities.”
Singer Linda Nolan, who rose to fame alongside her sisters in The Nolans, has died after several years of battling cancer.
The Irish star, 65, and her sisters Coleen, Maureen, Bernie, Denise and Anne, had a run of hits in the late 1970s and ’80s – including the disco classic I’m In The Mood For Dancing.
Paying tribute on The Nolans‘ X account, her sisters described her as “a pop icon and beacon of hope”, who “faced incurable cancer with courage, grace and determination, inspiring millions”.
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Linda died peacefully in hospital this morning, “embraced with love and comfort” with her siblings by her side, her agent Dermot McNamara said in a statement.
“As a member of The Nolans, one of the most successful girl groups of all time, Linda achieved global success; becoming the first Irish act to sell over a million records worldwide, touring the world and selling over 30 million records,” he said.
“Her distinctive voice and magnetic stage presence brought joy to fans around the world, securing her place as an icon of British and Irish entertainment.”
As well as her TV and musical career, Linda helped to raise more than £20 million for numerous charities, including Breast Cancer Now, Irish Cancer Society, Samaritans and others.
“Her selflessness and tireless commitment to making a difference in the lives of others will forever be a cornerstone of her legacy,” Mr McNamara said.
Linda’s death came after she was admitted to hospital with pneumonia over the weekend. She began receiving end-of-life care after slipping into a coma on Tuesday.
Details of a celebration of the star’s “remarkable life” will be shared in due course.
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Linda was born to Tommy and Maureen Nolan in Dublin on 23 February 1959, the sixth of eight children.
Her parents were both singers and keen to turn their young family into a musical troupe. Linda made her stage debut aged just four.
Those early years put the siblings on track for a career in show business which lasted for decades. As well as I’m In The Mood For Dancing, The Nolans had hits with Gotta Pull Myself Together, Attention To Me and Don’t Make Waves, and they also had their own TV specials.
At their height, they toured with Frank Sinatra and were reported to have outsold The Beatles in Japan.
Linda left the group in 1983, but later reformed with her sisters for several comeback performances. She also became known for musical theatre, most notably performing the role of Mrs Johnstone in Blood Brothers for three years from 2000.
Four siblings struck by cancer
Linda was first diagnosed with breast cancer in 2005, and underwent a mastectomy two days before her 47th birthday.
The sisters were diagnosed with different forms of the disease just days apart after they returned home from filming a series of their show, The Nolans Go Cruising. Linda had cancer of the liver, while Anne had breast cancer.
They went on to write Stronger Together, an account of their journey that included frank details of their treatments and the side effects.
But in 2023, Linda revealed the cancer had spread to her brain and she was beginning treatment as part of a new drug trial.
The Nolans lost their second-youngest sister, Bernie, to cancer in 2013, aged 52.
Linda’s husband of 26 years, Brian Hudson, died in 2007 after being diagnosed with skin cancer.
Anne Nolan is now cancer-free.
Tributes to star ‘who was always a joy’
TV star and singer Cheryl Baker and comedian Tommy Cannon are among those who have paid tribute.
“I’m heartbroken to hear about the passing of Linda Nolan,” Cannon wrote on X. “I had the pleasure of working with her on so many occasions, and she was always a joy – full of warmth and love. My thoughts and love are with the Nolan girls and the whole family.”
“The most incredible voice, the wickedest sense of humour, such a massive talent,” Baker wrote. “You’re with Brian now, Lin.”
Loose Women also sent its love to her family. Linda appeared as a guest panellist on the ITV chat show over the years, alongside her sister Coleen.
The Blackpool Grand Theatre described her as “a true Blackpool icon”.