Economy

Wall Street drops after jump in US producer inflation; John Healey says UK banks are part of ‘jewel in the crown’ – as it happened

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 15/10/2026, 15:05:26 UTC.

Briefings

At the IMF annual meeting in Bangkok, UK Chancellor John Healey reported UK growth as 0.7% in the three months to August, marking the strongest rate since May. Healey described banks as part of the UK's economic crown, while noting that elevated borrowing costs may pressure the Bank of England to raise interest rates in November. The UK's growth trajectory suggests it could become the second-fastest-growing economy in the G7, though it lags the US in investment scale. The article notes the UK is making progress in ICT hardware spending linked to AI infrastructure, yet remains ahead of many European peers. The report is described as better-than-forecast, though the specific impact on the Bank of England's rate decision remains uncertain.

Key points

• UK Chancellor John Healey reported UK growth as 0.7% in the three months to August at the IMF annual meeting in Bangkok.
• Healey described banks as part of the UK's economic crown, while noting elevated borrowing costs may pressure the Bank of England to raise interest rates in November.

Context and limitations

The article is a preprint from October 2026, and the specific impact of the growth figures on the Bank of England's rate decision remains uncertain.

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