Economics

The Bank of England's Monetary Policy Committee will tolerate missing the inflation target for the next two years in order to support the UK recovery, said Bank governor Mervyn King.

The UK will avoid falling into a 'triple-dip' recession but external forces still pose a danger to the economy, according to the Confederation of British Industry (CBI).

UK CPI inflation stood at 2.7% for the fourth consecutive month in January, but fears over longer-term forecasts sent sterling to a six month low in early trading.

Japanese equities have led Asian markets higher as news of a nuclear test by North Korea failed to significantly dampen optimism after a three-day break.

Société Générale strategist and permabear Albert Edwards has launched a scathing attack on central bankers, warning incoming BoE governor Mark Carney could follow in the footsteps of Alan Greenspan to be a "ruinous" bank leader.

The Bank of England's Monetary Policy Committee (MPC) has said inflation may remain above the 2% target for the next two years, in part due to sterling weakness.

Peter Harrison is leaving his post as chairman and chief executive officer at RWC to take on the role of global head of equities at Schroders.

Chancellor George Osborne has taken the unusual step of calling on the Bank of England to do more to help support the UK economy, according to reports.

RBS has been fined a collective £391m for its role in the LIBOR scandal, with the FSA's investigation finding over 200 "inappropriate" rate submissions.

The Bank of England is close to announcing a further bout of asset purchasing, particularly as gilt yields continue to soar, Kames Capital's Iain Buckle has predicted.