The threat of deflation in the eurozone was back on the radar of the European Central Bank after figures showed a surprise slowdown in the cost of living to 0.8 per cent in December.
The European Commission hailed the overnight agreement by finance ministers for a new system to deal with failing banks as an "unprecedented" achievement.
Ireland set to return to the money markets as the first euro zone nation to have completed a strict bailout programme
Mark Carney's flagship forward guidance policy was backed by the International Monetary Fund today as the Bank of England Governor marked 100 days at the helm in Threadneedle Street.
Economic View: What happens to US rates affects the rest of the world but so too does what happens to the US economy
Europe is experiencing a huge shift in population, exacerbated by the eurozone’s rigidities
Sterling hits its weakest since mid-March
Mark Carney begins work at the Bank of England tomorrow. There is a great temptation, as you can see from the stuff that is being written about the appointment, to see this as leading to a significant shift in policy – something that will enable the UK economy to reach “escape velocity”. The fact that the Bank has been given additional responsibilities for regulating the banking system, making the job on paper at least more powerful, increases the temptation.
The unemployment rate rsoe from 7.5 to 7.6 per cent
The European Central Bank has left interest rates unchanged, admitting it has discussed a number of policy options in case the eurozone fails to emerge from recession later in the year.
Total unemployment rises to 19.4 million amid fresh criticism of austerity
The Bank of England today decided against giving a further boost to the British economy in Governor Sir Mervyn King’s penultimate meeting at the helm.
Banks could lose emergency funding within 72 hours, prompting exit from euro
Move would attempt to stop money flowing out of the country
The eurozone was still embroiled in an acrimonious dispute tonight over whose idea it was to impose a tax on the savings of ordinary depositors in Cypriot banks – a decision that has instigated a financial panic on the Mediterranean island and reactivated the wider eurozone sovereign debt crisis.