It’s a knockout – MPs grapple with new interest rate guidance
MPs were hoping to get clarity on Mark Carney’s “forward guidance” on interest rates today – but most were left scratching their heads.
Inflation has fallen to its lowest level in more than four years – good for households who have seen their pay eroded by rising prices, but the better news is the squeeze on earnings may be over.
Unemployment falls by 125,000 to reach 2.34 million, with the number of people claiming out-of-work benefits also declining as the economy recovers from recession.
Bank of England Governor Mark Carney ditches his flagship interest rates policy, but says the cost of borrowing is unlikely to rise in the near future despite falling unemployment.
After years of lacklustre growth, the recovery appears to be taking off at last. Good news for Chancellor George Osborne, but even he is not celebrating yet.
Jackie Long talks to locals in Biddulph about their economic troubles, and whether the leaders at the Davos world economic forum can really help out.
Unemployment falls by 167,000 to reach a five-year low of 2.32 million. The jobless rate is now 7.1 per cent, just above the level that could trigger an interest rate rise.
Consumer prices inflation drops to 2 per cent for the first time in over four years, in line with the government’s target. But Labour says the “cost-of-living crisis” has not gone away.
Exclusive: Bank of England Governor Mark Carney tells Channel 4 News he will not be a “cheerleader” for the City and intends to “root out corruption” in the financial markets.
The Bank of England raises its growth forecast for the economy, but says interest rates will not automatically rise if unemployment falls faster than previously predicted.
Chancellor George Osborne rejects claims that government policy is leading to a housing market bubble.
A 5 per cent cap on house price growth may be needed to prevent an inflationary boom and bust, according to the Royal Institution of Chartered Surveyors.
MPs were hoping to get clarity on Mark Carney’s “forward guidance” on interest rates today – but most were left scratching their heads.
The payday lender Wonga unveils profits of £1m a week as the number of customers willing to pay its high interest rates rises to more than a million.
The new governor of the Bank of England tells a business audience that interest rates are unlikely to rise in the next few years, but action could be taken to prevent a house price boom.
Cathy Newman discusses the interest rate decision with Julia Chanteray of The Joy of Business – a consultancy which helps businesses to develop and Simon Rose from campaign group Save our Savers.