Bank of England

The amount of money lent for mortgages has declined by 8% since October, indicating a slowdown in the market, according to the Council of Mortgage Lenders (CML).

The Bank of England's Monetary Policy Committee (MPC) made a unanimous decision to cut interest rates at the beginning of December, it was revealed today.

Banks and financial institutions have borrowed £10bn made available by the Bank of England to ease problems in global credit market.

Mervyn King, governor of the Bank of England, has been accused of taking a U-turn over his decision to collaborate with other central banks to provide bailouts to struggling financial institutions.

Northern Rock's small shareholders have given their backing to the latest bid from Lugman Arnold's investment group, Olivant.

Clive Briault's warning that 1.5 million people due to remortgage next year will find it "difficult, if not impossible to refinance their mortgage on favourable terms" could cause undue panic, according to Newcastle Building Society.

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.