Bank of England

Fears the UK economy is heading for a period of deflation have increased after the inflation rate dropped to zero for the first time since records began.

A Bank of England official has said asset managers, insurers and clearing houses in UK should be subject to the same stress tests faced by banks.

With the Bank of England monetary policy announcement marking six years of rates being held at a record low level of 0.5%, Investment Week looks at the funds which have produced the best performance over the period.

Inflation fell to 0.3% in January, the lowest level ever recorded and firmly below the Bank of England's 2% target.

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The Confederation of British Industry (CBI) has upgraded its UK growth forecast in the face of low inflation and falling unemployment figures.

The Bank of England has said it is prepared to cut rates further and expand its quantitative easing (QE) programme should the current downward slide in inflation worsen.

The yield on a 10-year UK government bond fell to a new record low below 1.4% on Thursday after comments the Bank of England is in 'no rush' to raise interest rates.

Bank of England Governor Mark Carney has warned the eurozone could sink further into its 'debt trap' as austerity measures choke off growth.

Members of the Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep interest rates on hold in January, the committee's latest minutes reveal, knocking expectations of a rise this year.