Economics / Markets

SOAPBOX

SECTOR REPORT

London's leading share index fell quickly into the red after new Bank of England (BoE) governor Mark Carney unveiled plans to issue market's forward guidance on interest rates.

The Bank of England (BoE) has announced it will not raise the base rate of interest from 0.5% until unemployment falls to 7% or below.

The Bank of England has said it will not raise the base rate of interest before the unemployment rate falls to 7% and warned investors are still expecting rates to rise sooner than is likely.

Falling household savings rates have contributed to the UK's economic recovery and prevented it from sliding back into recession, according to the Trade Union Congress (TUC).

Bank of England (BoE) governor Mark Carney is to unveil new guidance later today, giving the country more certainty on interest rates and economic stimulus.

Northern Rock and Bradford & Bingley's 'bad bank' paid back another £1.9bn to taxpayers in the first half of the year, the Telegraph reports.

Firms are not expecting a return to the "equity culture" seen in the 1990s, according to research conducted by the Investment Management Association (IMA).

Disappointing results have sent HSBC shares down 5% and erased the FTSE 100's early gains on the first day of trading this week.