Bank of England

The Japanese government has raised the severity of the crisis at the Fukushima Dai-Ichi nuclear plant to 7, a rating only previously applied following the 1986 Chernobyl disaster.

The Bank of England today held interest rates at 0.5% as fears over a sluggish economic recovery outweighed inflation concerns.

The Bank of England is likely to maintain its current monetary stance and keep interest rates at their historic low today after a new report suggested the UK's economic recovery remains sluggish.

Ministers are to outline plans for a universal state pension which they say will help people currently working prepare for a "different sort of world" in retirement.

Andrew Sentance has predicted inflation could rise above 5% this year and repeated his calls for a gradual increase in interest rates and cutting off of monetary stimulus.

The pound reached a 14-month high this morning, after data revealed UK inflation soared to 4.4% in February.

Consumers are increasingly pessimistic about the Bank of England's ability to control high inflation, but few have a plan to move their savings out of banks and building societies to seek higher returns.

The UK's economic recovery slowed in the second half of last year and will remain 'subdued' throughout 2011, the Organisation for Economic Co-operation and Development (OECD) predicts.

Members of the Bank of England court revealed yesterday they are "uncomfortable" with governor Mervyn King's involvement in politics.

Dr. Paul Fisher, executive director for markets at the Bank of England, has been appointed chairman of the ifs School of Finance.