Bank of England

A member of the Bank of England's Monetary Policy Committee has made his case for more quantitative easing (QE) to keep the economy on track.

Charlie Bean, deputy governer of the Bank of England, has hit the headlines by suggesting people should spend right now, while interest rates are low, rather than saving their money.

Ros Altmann, director-general of Saga, has slammed Bank of England deputy governor Charlie Bean after he encouraged people to spend their savings to boost the economy.

Charlie Bean, Bank of England deputy governor, says the UK's savers should "eat into" their reserve cash now to help them survive historically low interest rates.

Government bonds jumped on Wednesday on rumours the Bank of England could be moving closer to increasing its £200bn "money-printing" programme to buoy the recovery.

Dr Andrew Sentance remains the lone member of the Bank of England Monetary Policy Committee to argue for an increase in interest rates.

Consumers are not reaping the benefits of historically low interest rates as banks look to buffer their capital reserves in light of the financial crisis, says the Bank of England.

Advisers are set to turn their backs on conventional annuities and recommend asset-backed alternatives as annuity rate crashes continue to plague retirees.

Mervyn King has accepted the role financial services played in leading the country into recession and admitted policymakers did not do enough to prevent it.

Mervyn King will today become only the second Bank of England governor to address the TUC when he speaks at the union's conference in Manchester.