Bank of england
Homeowners will be hit by fresh increases in mortgage rates as the storm in the eurozone hammers Britain’s financial system.
David Cameron will urge eurozone leaders to "make up or break up" today as he fears the euro unraveling will further dent the British economy.
Sterling has fallen against the dollar today after a dovish quarterly inflation report from the Bank of England cut growth forecasts and left the door open to further quantitative easing (QE).
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The UK's unemployment rate showed a small fall from 8.3% to 8.2% in the first quarter, according to the latest figures from the Office for National Statistics.
Former Barclays chief John Varley is no longer in the running for the top job at the Bank of England, Investment Week understands.
Governor of the Bank of England, Sir Mervyn King, will signal on Wednesday that interest rates will remain around their record low until the end of next year at the earliest, the Daily Telegraph reports.
The way the financial services industry can protect itself from any mis-selling scandals in the future is by getting rid of commission, warned BBC Moneybox journalist Paul Lewis at the BSA annual conference.
Policymakers will have to "proceed cautiously" when moving interest rates to keep arrears levels under control.
The Bank of England (BoE) should have "shouted from the rooftops" about flaws in the system which could have prevented the banking crisis, governor Sir Mervyn King has said.
The UK economy contracted by 0.2% in the first quarter of the year, slipping back into technical recession, preliminary estimates from the Office for National Statistics (ONS) have shown.
A former member of the Monetary Policy Committee has claimed Bank of England governor Mervyn King was "unprepared for the crisis" that wrecked the world economy and "controlled the bank with an iron fist."
Paul Tucker,deputy governor of the Bank of England, has warned inflation will be higher than expected this year, following yesterday's unexpected rise in CPI.
Each of the nine members of the Bank of England’s Monetary Policy Committee (MPC) voted to hold interest rates at the historic low of 0.5% this month, minutes from their latest meeting show.
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