News

The US Federal Reserve said it would continue to reduce its bond buying stimulus program by $10 billion a month and will keep interest rates extraordinarily low for as long as required.

UK house prices could rise 18% in next five years

Meanwhile, mortgage lending 26% higher than June last year

Bank of England Governor Mark Carney is facing a setback as prices rise

Bank of England Governor Mark Carney will be faced with the highest inflation for more than a year this week when figures on the cost of living are published.

Mark Carney starts Monday as the new Governor of the Bank of England

New Bank of England Governor Mark Carney rolls up his sleeves as new era begins

Mark Carney will hit the ground running at the Bank of England today as he takes on "one of the toughest central banking jobs in the world".

Editorial: The high price of payday loans

It is better to have lending in the legal economy than drive it into the criminal underworld

Carney expected to resist urge for immediate change

A new era at the Bank of England dawns tomorrow as Canadian Mark Carney takes the reins and prepares for his first decision on interest rates and money-printing within days.

Sources: IMF, OECD, Thompson Financial Datastream and Bloomberg

Hamish McRae: Working out how to quit QE will be new boy Carney’s first challenge

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.

Weaker companies 'facing collapse when rates rise'

Private-equity boss Jon Moulton today forecast that many weak companies that are “staggering along” because of low borrowing costs are facing collapse as interest rates are starting to rise.

Bank of England called for City regulators to assess how vulnerable borrowers and financial institutions will be to a sharp rates rise

'Significant' threat emerges of sharp rise in interest rates, warns Bank of England

Increase would affect debt-laden households, banks and finance firms

Libor scandal: ex-UBS trader Tom Hayes is charged by fraud office

A former UBS trader was today charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of the Libor interbank lending rate.

Henry Angest is one of the Conservative Party’s largest financial backers

Top Tory funder runs high-cost loans company

Conservative party grandee controls firm which charges interest at 75 per cent APR

Mervyn King faces vote defeat in his last meeting

Sir Mervyn King will bring down the curtain on 16 years of rate-setting this week as he chairs his final meeting of the Bank of England's monetary policy committee (MPC).

Money Insider: Interest-free credit card deals may not be as good as they seem

The battle for credit card, best buy coverage in the zero per cent balance transfer market shows little sign of petering out any time soon.

Ben Chu: Water, water everywhere – but where is there any benefit for customers?

Outlook The City's mouth is watering. A takeover bid for Severn Trent from a consortium of pension funds and a sovereign wealth pot is stimulating juices in the Square Mile. Large fees for investment banks and, naturally, profits for speculators are in prospect if the £5bn-odd approach to buy the water company, which unveiled its full-year results yesterday, is successful. The other two other listed water utilities could also soon be in play too, slather the bulls.

Boom times look to be a long way off, MPC’s Paul Fisher warns

Britain will have to wait for the boom times to return despite “some signs of a pick-up” in the economy, Bank of England rate-setter Paul Fisher declared today.

Savers shun ISAs as interest rates dive

Britons struggling to pay their household bills do not have spare cash to squirrel away in Isas – the level of savings in the tax-free accounts has fallen for the first time in the tax year to 2012.

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