Despite the increase, the lender warns mortgage costs could remain “higher for longer” following the Budget.

A number of major firms have warned over the impact of higher National Insurance costs.

Interest rates were cut to 4.75% but the Bank expects inflation to creep higher after last week’s Budget.

The US central bank cuts interest rates, as its chairman vows to stay on the job.

Big mining firms are switching to driverless trucks and other autonomous equipment.

The Japanese car making giant has not yet said where in its global operations the job cuts will be made.