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As the Governor of the Bank of England launches a scathing attack on banks, Bob Diamond, the embattled chief executive of Barclays Bank, says he will not resign.
Plans for a multi-billion pound emergency bank funding scheme are the latest attempt to spark the UK’s economy – but will they work?
Why has the Bank of England decided against printing more money despite a recession in Britain, an intensification of the eurocrisis and advice from the IMF that now is the time to act?
The Governor of the Bank of England warns banks to brace themselves for a potential eurozone collapse by increasing reserves, adding that the BoE has “contingency plans” for a euro meltdown.
If the private sector recovery gets going, and the full powers of this new FPC kick-in in 2013, then the decisions of this new body in early 2015 could be rather interesting – economically and politically, writes Faisal Islam.
Exclusive: A key Bank of England official tells Faisal Islam the bank would have “pressed the brakes” in 2004 before the credit crunch began.
The Bank of England keeps interest rates on hold, with the Monetary Policy Committee voting to maintain the Bank’s base rate at 0.5 per cent for the 27th month in a row.
As the Bank of England cuts its growth forecast and warns of volatile inflation, one economist tells Channel 4 News the Bank’s latest figures may still be too optimistic.
Bank of England boss Mervyn King warns that grim GDP figures serve as a stark reminder of Britain’s “choppy” economic recovery and says Britons should expect “uncomfortably high” levels of inflation.
Prudent savers are being sacrificed at the altar of feckless spenders – at least temporarily – and that is how it has to be in the current financial climate, the Bank of England’s Charlie Bean tells Economics Editor Faisal Islam.
Exclusive: Bank of England Deputy Governor Charlie Bean tells Channel 4 News Britain’s savers should “eat into” their reserve cash now to help them survive historically low interest rates.
Life-saving domestic abuse services are at risk of disappearing because of the spiralling funding crisis facing councils.
The Bank of England has raised interest rates 13 times in the last 18 months – but today the financial regulator said big banks have failed to pass on those higher rates to their savers.
Nurses in England have voted to stage more strike action at the start of May – after members of the Royal College of Nurses rejected their leadership’s recommendation to accept the latest Government pay offer.
The Chancellor has been locked in talks to come up with an emergency cash lifeline to help British tech firms, following the collapse of Silicon Valley Bank UK.