Bank of England

The Financial Services Bill has been branded a 'dog's breakfast' by a prominent Labour peer and criticised for being put together too quickly.

Members of the Treasury Select Committee have published a special report into the government's "defective" banking reforms, according to reports.

The Bank of England's Monetary Policy Committee (MPC) today resisted calls to expand its quantitative easing programme and cut interest rates, even though the UK is officially back in recession.

Policymakers at the Bank of England have come under pressure to take action today to 'cushion' the UK's recession-hit economy against further eurozone turmoil, the Guardian reports.

JAPAN

The Bank of England is preparing to inject £50bn into the economy to provide a growth boost, and is also contemplating cutting interest rates, amid fears of a global slump.

Andrew Bailey, the man who will take over Hector Sants' duties next month, has been appointed to the Bank of England's interim Financial Policy Committee (FPC).

The Bank of England (BoE) is likely to be urged today to take on a full range of powers under its new regulatory remit, including a controversial right to restrict mortgage lending during a housing boom.

Liberal Democrat leader Nick Clegg has signalled the government is ready to loosen its austerity drive with a "massive" increase in state-backed investment into housing and state infrastructure.

April UK retail sales have come in well below forecast as Bank of England minutes have revealed many MPC members are considering voting for further quantitative easing.