Economics / Markets

The Governor of the Bank of England has indicated his policy of linking interest rates to unemployment could be scrapped less than six months since its creation.

The Bank of England has again moved to temper expectations of an early rate rise, despite the UK unemployment rate dropping to close to the crucial 7% mark this morning.

Economist and founder of Capital Economics Roger Bootle has said that quantitative easing (QE) is not the "inflation danger" people should be worried about - the focus should be on the intentions of the government.

The Chinese economy grew by 7.7% in 2013, the latest figures from the country have revealed, its slowest rate for 14 years.

The Bank of England's Monetary Policy Committee (MPC) should hold off on raising interest rates even though its stated threshold for doing so - a fall in the unemployment rate to 7% - is in sight, according to a report.

ASEAN

Managers Tony Lanning and Nick Roberts get on the PA soapbox

Labour will refer high street banks to the competition authorities if it is elected in 2015, Ed Miliband, the Labour leader, is expected to say in a speech on Friday.

The UK's headline rate of inflation fell to 2% in December, meeting the government-set target for the first time since November 2009, official figures show.

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