- Lowest number of Mortgage Approvals since records began.
- In a breaking report from the Bank of England only 64,000 mortgages were approved last month.
- Tue 29th Apr 2008
- Are the Banks getting greedy?
- In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.
- Thu 24th Apr 2008
- Comparison websites under the hot spotlight.
- The centre for competition policy has produced a report saying independent checks need to be made of comparison websites.
- Sat 12th Apr 2008
Economy facing "testing times", says BoE
Thu 17 Jan 2008 4pm
The Bank of England's (BoE's) monetary policy committee is currently faced with "testing times" as a result of the uncertainty surrounding the economy, according to one official.Speaking at a meeting with the London Chamber of Commerce and Industry, BoE deputy governor John Gieve said that economic growth is now experiencing a sharp slowdown, partly due to last year's base rate increases.
He added that this, coupled with the effects of the ongoing global credit crunch, could be enough reason to make a "progressive" policy shift, going on to note that rises in food and oil prices could have further repercussions.
"These are likely to raise our inflation rate well above target in the coming months at a time when short-term inflation expectations remain uncomfortably high," Mr Gieve stated.
Earlier this week, figures from the Office for National Statistics showed that consumer price index inflation remained steady at 2.1 per cent in December.
