BoE

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.

UK economic prospects for 2009 have ‘worsened' and the Bank of England and Government need to act proactively to counter threats to growth, the British Chambers of Commerce (BCC) warns.

The Treasury is set to give the go-ahead for a Government-backed plan to help mortgage companies start lending again in the wake of the credit crunch, The Telegraph reports.

The Bank of England's Monetary Policy Committee faces one of its most difficult decisions over interest rates today, as calls grow for a cut to kick-start lending, despite inflationary pressures, The Telegraph reports.

The Bank of England is now odds-on to cut interest rates next week, experts said, after new figures indicated that the economy is at its weakest in five years and that the mortgage drought is set to worsen, The Telegraph reports.

The Bank of England's Monetary Policy Committee (MPC) voted seven to two to keep interest rates at 5.25% earlier this month as inflation risks escalate.