Bank of England

Interest rates have hit a new, record low today as the Bank of England fights to pull Britain out of recession.

The Bank of England did not understand the seriousness of the asset bubble which preceded the banking crisis and ongoing global recession, its deputy Governor has admitted.

The Bank of England considered cutting rates by even more than 1% this month, the latest minutes from the Monetary Policy Committee's (MPC's) meeting reveal.

A heavy-handed response to regulating the financial services sector could lead to unintended consequences, according to Monetary Policy Committee (MPC) member, Andrew Sentence.

Deep interest rate cuts act like a tax increase on the incomes of retired people, according to independent pensions adviser Dr Ros Altmann.

The Bank of England is working on radical plans to inject cash directly into the economy - the nuclear option to be used only when interest rates approach zero, according to The Telegraph .

The Bank of England has made a further dramatic cut in interest rates, down to 2%, the lowest level for more than half a century

The Bank of England is set to follow a wave of interest rate cuts as countries around the world seek to avoid recession.

Further cuts in interest rates may be on the cards after minutes from the Bank of England's November meeting hinted at the need for more action.

Barclays and HSBC are under increasing pressure to pass on yesterday's historic base rate cut to their lenders after every other major lender did so on Friday.