Bank of England

Sterling has risen to a seven-month high against the dollar after the UK's unemployment rate unexpectedly dipped from 7.8% to 7.7%.

The UK unemployment rate fell 0.1% in the three months to July to 7.7%, according to the Office for National Statistics.

How much do you remember from the week's news?

The Bank of England (BoE) has elected to hold the base rate at 0.5% and maintain the size of its quantitative easing (QE) programme at £375bn.

SOAPBOX

Positive data pointing to the increasing pace of the UK economy is putting the Bank of England (BoE) under greater pressure to rein in market expectations of an interest rate rise.

What do you remember from the week's news?

The new Bank of England governor, Mark Carney, has said he will step in to prevent a house price bubble caused by low interest rates and the Government's Help to Buy scheme.

Sterling dropped and then recovered sharply minutes after new Bank of England Governor Mark Carney told the world he has no plans to raise rates any time soon, but was upbeat on UK growth.

Mark Carney has moved to defend the Bank of England's 'forward guidance' policies and said further stimulus may be necessary keep the UK economic recovery on course.