Bank of England

The Confederation of British Industry has said that it expects economic growth in 2011 to be slower than previously thought thanks to the Coalition government's emergency Budget. By contrast the CBI said it expected growth in the remainder of 2010 to be slightly faster than previously hoped for.

Labour's new leader and possible next UK Prime Minister, will be announced on the 25th of this month. The contest started from the moment Gordon Brown conceded defeat and stood down as Prime Minister and Leader of the Labour Party after May's General Election gave the Conservatives the largest number of seats, though not a clear majority. There are five candidates standing: Diane Abbott, Ed Balls, Andy Burnham, David Miliband and his brother, Ed Miliband. These candidates offer those e...

The Office for National Statistics has said that Consumer Price Index inflation was 3.1 per cent in August, flat from the previous month, when the figure fell for the third consecutive month.

The Bank of England's latest statistical release has shown flat mortgage approvals against a negative backdrop.

Interest rates could reach record highs adding up to £900 to the mortgage burden if Policy Exchange thinktank is correct in its thinking.

Shares in British banks were mixed in morning trading on the FTSE 100 after sharp drops caused by uncertainty about the state of the global recovery.

Shares in British banks were mixed in morning trading on the FTSE 100 as investors continued to act cautiously in the face of an uncertain global economic recovery.

UK Retail sales for July and inflation data is set to go in differing directions next week as retail sales slow despite recent gains due to World Cup and inflation falls.

CML, the Council of Mortgage Lenders has downgraded its forecasts for the year by £10 bn to £140bn after finding less confidence in the second half of the year than previously thought.

The pound has lowered to a one week low versus the dollar today amidst further evidence that the Bank of England are to keep interest rates low. The signs of 'softening' confidence in the economy is leading the central bank to lower its forecasts for next year to 2.5 pct from 3.4 pct in May.

Mervyn King, Governor of the Bank of England lowered forecasts for economic growth in UK after high Inflation prospects rose. The Bank now forecasts 2.5 percent next year - down from its forecast in May of 3.4 percent growth.

Annual growth in the weekly pay and bonuses has decreased according to the Office of National Statistics.

The UK's trade deficit narrowed in June as rising exports boosted hopes of a export-led recovery.

The Bank of England has held interest rates in a widely expected move for the seventeenth consecutive month as spare capacity in the recovery is expected to bring inflation down.

Bank of England policymakers greeted the upcoming interest rate meeting with a view that rates will need to rise sooner than expected as economists show that the recovery has faltered.

Falling consumer confidence by market researcher GfK NOP will lead to drop in consumer spending economists warn, as levels drop for fifth consecutive month despite a rise in retail sales.

The Bank of England is unlikely to raise interest rates 'near-term' after a series of economic data show that the MPC - the eight wise-men in charge of setting policy - are more likely to adopt a 'wait and see' approach to stabilise the UK recovery.

Mervyn King, Governor of the Bank of England, was cautious but hopeful today as he faced a Treasury Select Committee of MP's. The Governor of UK's Central Bank, in charge of financial regulation, King said:

The Bank of England has voted 7-1 against raising rates in their latest interest rate meeting, minutes reveal today.

UK economists are getting increasingly pessimistic on growth as a whole host of new data emerged today on the 'poor state' of public finances.

This week ahead sees a number of key economic announcements - retail sales for June, GDP figures for Q2 and a Rightmove house price survey released today.

Monetary Policy Committee, MPC member David Miles has reiterated his 'dovish' stance on UK's rates in a speech published Thursday.

The Bank of England has today announced an improvement in housing equity by £0.2 billion as a slow shift towards positive equity markets continued.

Food and fuel have helped to curb CPI - the main measure of inflation - after falling oil prices meant that petrol fell by 2.6 pence per litre and extra sales from the World Cup and warmer weather kept food prices low.

CPI, Consumer Price Index, fell just 0.2 pct today as the high cost of fuel continues to remain a pressure on the average household expenditure leaving inflation invariably high.

The Bank of England has decided to keep interest rates on hold for a fourteenth consecutive month despite a split in last month's decision to hold it at 0.5 pct.

Next week will see the Bank of England make its latest decision on interest rates and could see Monetary Policy Committee members take a good look at the possibility of raising interest rates.

Leaders of the Group of Eight Industrialised Nations have ended their summit without an agreement on an international bank tax.

Shares in British banks were mixed on the FTSE 100 in morning trading ahead of this weekend's G20 meeting in Canada.

The Bank of England has told its banks to cut bonuses and reduce dividends to provide for a 'considerable' risk in the Eurozone.