Economics / Markets

The UK's economic growth will be 'subdued' in 2011, held back by fiscal tightening and weak real income growth, according to a new OECD report.

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The FTSE took its early lead from strong gains in Asia rather than muted US markets, up by 0.5% to 5,723.51.

A team of EU and IMF inspectors will arrive in Ireland today to take a closer look at the nation's banking system and prepare for a possible €80bn bailout.

The Bank of England's nine-member Monetary Policy Committee (MPC) was split three ways over the direction of monetary policy at their November meeting, according to minutes of the gathering.

European Council president Herman van Rompuy warns the euro and wider EU face a "survival crisis" as the continent's sovereign debt crisis escalates.

The FTSE 100 was down almost 2% this afternoon as fears over Europe's sovereign debt woes and tighter monetary policy in China continued to weigh on investors.

Inflation is likely to remain high throughout 2011 but the Monetary Policy Committee (MPC) is more divided than usual over the reasons why, the Bank of England Governor says.

Mark Hoban, Financial Secretary to the Treasury, says the government has done what it can to help lending to small business and now the banks must take the lead.

Annual consumer prices inflation (CPI) rose in October to a four-month high of 3.2%, up from 3.1% in September and higher than economists' forecasts.