War leader will replace penal reformer Elizabeth Fry, leaving the Queen the only woman on a British bank note
Lower growth and higher-than-expected borrowing revealed
This is bad news. A drop in a credit rating by one agency does not matter that much in itself, for heaven knows, the rating agencies have been absurdly wrong in their judgements. The AAA ratings they gave to dodgy US housing debt were one of the factors in the banking crash of 2008. Both the US and France have seen a similar modest downgrading of their debt. But it matters because it focuses investors on the inherent weakness not just of British national finances at the moment but also of the longer-term commitment of the UK authorities to holding down inflation and assuring investors that they will get paid back in real – rather than devalued – money.
The pound has plummeted on international exchanges after a surprise split emerged on the Bank of England’s Monetary Policy Committee (MPC) about whether more stimulus should be injected into the struggling British economy.
Bank of England Governor Sir Mervyn King today said it would be “depressing” if bankers choose to defer their bonuses until after the introduction of the new 45p income tax rate.
Canadian Mark Carney is first foreign Governor of the Bank of England in 318 years – but can he ride to the economy’s rescue?
The Bank's new Governor, Canadian Mark Carney, is a dark horse who is needed to bring in a new beginning, says Russell Lynch
Bank of England Governor Sir Mervyn King has said he is "pessimistic" over the chances for a eurozone recovery and warned Britain is still not halfway through the financial crisis.
Bank of England governor Sir Mervyn King today made a fresh appeal for fairness in bankers' pay and bonuses.
Banks should make preparations to withstand the "extraordinarily serious and threatening" economic situation in Europe, the governor of the Bank of England said yesterday.
King leafed through the Financial Services Bill, marvelling at MPs’ ability to understand it
Former Chancellor's memoirs claim economic rift with PM stripped Labour Party of its credibility. Nigel Morris reports
The UK's economy will not grow as quickly as previously expected and faces serious threats from the debt storms lashing the eurozone, the Bank of England warned today.
The sort of solidarity shown by some union members this week is rare
Bank of England Governor's dire warning on state of the economy
Economic Life: The Governor did cross an important line in May. If he agrees with the Coalition, as he has said, then he necessarily disagrees with Labour