Australia’s new law on supermarket “price gouging” (also known as excessive pricing) starts on July 1 2026.

It prohibits any very large supermarket with revenue exceeding A$30 billion – currently only Coles and Woolworths – from charging a price for a grocery product that is significantly excessive compared to the cost of supply, plus a reasonable margin.

The Prudential Regulation Authority (PRA) has today published a consultation on the internal model approach to market risk (IMA), which represents the final piece of Basel 3.1’s implementation in the UK.

The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.

The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.