Bank of England

A multi-millionaire businessman who became a Labour minister last week has admitted holding part of his personal fortune in an offshore tax haven which experts say could have helped him avoid £3m in tax, reports this morning's Times.

MORTGAGE LENDERS are priming themselves to cut loan rates this week on the prospect of a future rate cut, saving homeowners with a £150,000 mortgage more than £400 a year, says the Times.

BANKS WILL relax their grip on the first claim for collapsed companies' assets, says this morning's Times, in an attempt to ensure workers and pensioners do not lose their retirement savings.

The Bank of England has kept its interest rates unchanged for the ninth straight month.

Inflationary pressure from the housing market, consumer slowdown and uncertainty surrounding the general election make an interest rate rise in June increasingly likely, according to a new report.

The Bank of England's Monetary Policy Committee has today maintained the base rate at 4.75%.

The Bank of England's Monetary Policy Committee has left base interest rates unchanged at 4.75%.

House prices climbed again in January in comparison to the end of last year, but the average price of a UK property continued to fall a fraction, says Nationwide.

BANKS AND building societies shielded borrowers from the full impact of rising base rates this year but made their money by cutting the gains for savers, says the Daily Telegraph .

Latest findings from a Bank of England survey reveals the UK's debt level is at a level which consumers can manage at present.