Bank of England

The Monetary Policy Committee's (MPC) Adam Posen has warned the Bank it should not try to compensate for its past mistakes in underestimating inflation by pushing up interest rates.

Britain's financial system is vulnerable to increased EU sovereign debt woes and bubbles in emerging market assets and junk bonds, the Bank of England (BoE) says.

Deputy governor of the Bank of England Charles Bean says another eurozone sovereign debt crisis could "derail" Britain's recovery, hitting businesses and households hard.

The Bank of England has held interest rates at 0.5% and left unchanged its quantitative easing programme at £200bn.

The Irish Republic is poised to unveil the details of a severe austerity budget later, part of a deal to secure an €85bn bail-out from the European Union and International Monetary Fund.

Former Bank of England policymaker David Blanchflower has called for Mervyn King to quit over the US WikiLeaks affair.

The Bank of England's nine-member Monetary Policy Committee (MPC) was split three ways over the direction of monetary policy at their November meeting, according to minutes of the gathering.

Austria has suspended financial aid to Greece and claims the debt-stricken country failed to comply with the tax revenue targets agreed in the rescue deal.

Inflation is likely to remain high throughout 2011 but the Monetary Policy Committee (MPC) is more divided than usual over the reasons why, the Bank of England Governor says.

Annual consumer prices inflation (CPI) rose in October to a four-month high of 3.2%, up from 3.1% in September and higher than economists' forecasts.