BoE

The economy is facing a period at "least as challenging" as the 1970s, when Britain sank into a deep recession, the deputy governor of the Bank of England, Charles Bean, warned yesterday, The Guardian reports.

Inflation will peak at 5% in the coming months while economic growth will remain "flat" until well into next year, the Bank of England (BoE) predicted today.

Britain's economy is tipping headlong into a recession that could last more than a year and cost hundreds of thousands of jobs, warns Professor David Blanchflower, a member of the Bank of England's interest rate committee, in an interview with The Guardian...

Chancellor Alistair Darling has outlined plans for a new banking bill which will see the Bank of England (BoE) given powers for UK's financial stability along with added controls to the FSA.

Mervyn King, the Governor of the Bank of England, gave a stark warning yesterday that the financial excesses of recent years will lead to misery for homeowners, The Independent reports.

Alistair Darling yesterday paved the way for the Treasury to bring in a group of high-powered City figures to oversee the Bank of England's policing of the markets and help to prevent a repeat of the Northern Rock fiasco, The Times reports.

The Bank of England should raise borrowing costs to 5.25% at its meeting this week, says one of its leading former policy-makers, The Telegraph reports..

Alistair Darling must replace the Bank of England's financial stability chief in favour of someone with extensive City experience, the Shadow Chancellor said, The Telegraph reports.

Britain faces two years of economic pain and could sink into recession, the Governor of the Bank of England has said in a stark warning to the nation, The Times reports.

Any hopes of an imminent interest rate cut appear extinguished after the UK official annual inflation rate soared to 3% in April.