UK homeowners and businesses should be braced for an interest rate rise around the time of next year's general election, a senior Bank of England policymaker said on Thursday in the most explicit guidance on borrowing costs yet provided by Threadneedle Street.
The U.K. unemployment rate rose in the three months to December, edging up to 7.2 percent compared with 7.1 percent in the three months to November, according to the Office for National Statistics.
British savers could suffer a £3.6bn cut in the value of their savings following the introduction of a financial transaction tax, a study into Brussels plans to raise a levy on City trading has claimed.
Heavy storms that have flooded around 6,000 U.K. homes could knock more than 1 percent off economic growth, a U.K. economist told CNBC on Monday.
A new report commissioned by the IMF has refuted claims made by economists Carmen Reinhart and Kenneth Rogoff that high government debt levels stifle economic growth.
Recessions are costly. That was the message from the state of the nation report from the Institute of Fiscal Studies.
Despite an elegant solution that involved no new commitments of resources, the US Congress has refused to take up a long-delayed funding proposal for the International Monetary Fund.
Britain is struggling to stay in the "premier league" of countries ranked by the consultants PwC after suffering more grievously than rival nations in the slump of 2008-09.
The Bank of England has announced its biggest jobs cull for more than a decade, with 100 positions to go as part of an efficiency drive.
An emerging crisis
Cyprus' finance minister is returning to Cyprus from Russia after two days of talks with officials which failed to deliver a deal to rescue Cyprus.
Cyprus has become the fifth eurozone nation to seek help from international lenders, but the rescue package includes a hugely unpopular levy on savers at Cypriot banks – and as yet it remains unclear whether the country's MPs will accept it.
The age of austerity caught up with the European Union on Friday when a gruelling nonstop 26-hour negotiation resulted in agreement to slash the new seven-year EU budget by 3.3%, or €32bn, the first reduced budget in the union's history.