Bank of England

The UK financial services industry was handed a small reprieve today after the Bank of England cut its base rate by 0.25% to 5.5%, the first change in the rate since July.

UK interest rates have been cut by 0.25% to 5.5% by the Bank of England's Monetary Policy Committee (MPC) it was announced today.

The Bank of England should cut interest rates by 1% to help the UK banking sector weather the credit crisis, according to Oliver Russ, fund manager of Argonaut European Income.

The Council of Mortgage Lenders (CML) has called on the Bank of England to cut interest rates sooner rather than later.

The Bank of England's Monetary Policy Committee (MPC) voted 7 to 2 in early November to hold interest rates at their current level of 5.75%, it was revealed today.

House price growth in the UK has slowed by a further 0.2% in October, according to Assetz latest house price watch.

Parties interesting in acquiring the stricken Northern Rock Bank should not assume they will have access to Bank of England loan facilities it was announced today.

The Liberal Democrats have demanded that any buyer of Northern Rock should have to pay back its £24bn loan in full.

Potential buyers for the ailing Northern Rock bank must submit their rescue proposals by the end of today.

An expected rate cut by the Bank of England - given fresh impetus by yesterday's quarterly inflation report - could be as high as 0.5% by late Spring, New Star's Simon Ward says.