In his first major move since taking the helm at the Bank of England, new governor Mark Carney announces that interest rates will not be increased until unemployment drops below seven per cent.
Mark Carney tells Channel 4 News the Bank of England has sympathy for suffering savers, as he announces interest rates will be kept at record lows for years to come to help the economic recovery.
As the economy grows for the second quarter in a row, Chancellor George Osborne tells Channel 4 News that Britain has “held its nerve” but there is “a long way to go”.
Mark Carney, the incoming governor of the Bank of England, is widely praised. So how good a job has he done in his five years in charge of Canada’s central bank?
The cost of living goes up from 2.7 to 2.8 per cent in February, as Chancellor George Osborne adds the finishing touches to tomorrow’s budget.
Even with some fiscal hocus pocus that gives the Treasury an extra £3.8bn, government borrowing in the year to date is still worse than this time last year. And that should worry the chancellor.
The governor of the Bank of England, Sir Mervyn King, says the economy is recovering but inflation will be higher than previously forecast.
With the words “flexible inflation target” peppering his Treasury select committee hearing, new Bank of England Governor Mark Carney clearly wants to do more to help Britain’s contracting economy.
RBS is the third bank to be fined for attempting to fix the benchmark lending rate for financial institutions. What did these banks do and why does it matter?
Barclays chief executive Antony Jenkins says he is “shredding” Bob Diamond’s legacy as he tells MPs that bonuses will be cut to compensate people wrongly sold financial products.
Worries that Greece may soon be bankrupt and Spain will need a full-scale bailout send the euro sliding and Spanish bond yields soaring to a euro-record high of 7.52 per cent.
Another £50bn has been injected into the economy as Britain struggles to climb out of the double-dip recession – but pensioners and savers say they will come off worse.
Plans for a multi-billion pound emergency bank funding scheme are the latest attempt to spark the UK’s economy – but will they work?
As Greece implodes under tough fiscal reform Ireland, the IMF’s ‘austerity poster boy’, votes on belt-tightening measures in a referendum too close to call.
Vulture funds who bought international Greek bonds at discounts are circling ahead of Tuesday’s deadline to repay a 436m note issued long before the name Greece became synonymous with “crisis”.