Economics / Markets

Top economic forecasters are predicting an export boom for Britain next year that would provide a powerful pre-Election boost for George Osborne.

Federal Reserve chairman Ben Bernanke last night moved to quell fears there will be a quick exit from its quantitative easing (QE) programme in the coming months, arguing the US economy is not yet in a strong enough position to halt stimulus measures....

SOAPBOX

Members of parliament are set to receive a pay rise of more than £6,000 from 2015, though other allowances will be scaled back, the MPs expenses watchdog is set to recommend on Thursday.

The International Monetary Fund has raised its forecast for UK growth this year in the face of sharp cuts to world, US, eurozone and emerging market predictions as it warned that "downside risks to global prospects still dominate".

The Chancellor George Osborne is to back proposals for harsher punishments for bankers who act recklessly and are considered at least partly responsible for the collapse of financial institutions.

FIVE THINGS

Asian equity markets have followed their European counterparts higher in overnight trading, but investor attention is now firmly focused on the US once again.

The price of oil has broken through $100 a barrel for the first time in almost a year, amid concerns the political turmoil in Egypt could disrupt Middle East supplies.

The Bank of England has said market expectations of future rate rises are "not warranted", sparking a drop in sterling and a 50 point jump in the FTSE 100.