Economics / Markets

The Bank of England's latest thoughts on introducing negative interest rates to encourage higher lending from banks are 'somewhat schizophrenic', a leading economist has said.

Chancellor George Osborne is set to give incoming Bank of England Governor Mark Carney more powers in a bid to revive the flagging UK economy.

Sterling has jumped against the dollar, reversing this morning's losses, after the Bank of England's Monetary Policy Committee (MPC) voted to keep its quantitative easing programme unchanged at £375bn.

SOAPBOX

SECTOR REPORT

The Dow Jones Industrial Average - one of the two most quoted indices in the US - has hit a record high above 14,200 points, surpassing its 2007 peak.

Tyneside-based Moneygate Group has purchased a minority stake in and formed a partnership with a high net worth financial planning firm Group Rapport.

FIVE THINGS

Gold has suffered the longest run of monthly falls since 1997 after the metal declined for the fifth month in a row in February.

Consumers are waking up to the follies of making knee-jerk investment calls as they become aware of opportunities missed and the returns they could have achieved in the four years since the 2008 financial crisis, according to one adviser.