MPC

The Bank of England's Monetary Policy Committee (MPC) should hold off on raising interest rates even though its stated threshold for doing so - a fall in the unemployment rate to 7% - is in sight, according to a report.

Bank of England Governor Mark Carney has promised to keep interest rates lower for longer, ahead of the release of UK GDP growth data for the third quarter.

The recovery of the British economy is now "sustainable and self-confirming", according to David Miles, an external member of the Monetary Policy Committee.

SOAPBOX

Sterling rose against other major currencies this morning after the minutes from Monetary Policy Committee (MPC) meeting showed most members backed Mark Carney's forward guidance policy on interest rates.

Most members of the Bank of England's Monetary Policy Committee (MPC) backed their new governor's policy of forward guidance on interest rates, minutes from the Committee's latest meeting show.

The Bank of England (BoE) has named Sir John Cunliffe, currently the UK Permanent Representative to the European Union, as deputy governor for financial stability, replacing Paul Tucker.

Reducing the base rate from its current historical low of 0.5% into negative territory "remains an option" for the Bank of England's Monetary Policy Committee (MPC), deputy governor Charles Bean has said.

Sir Mervyn King, the outgoing governor of the Bank of England who has spent more than two decades at Threadneedle Street, is to be made a life peer.

Help to Buy could push first-time buyer house prices up 20% to more than £150,000 by the end of 2015, a financial consultancy has warned.