Economics

Some 2,000 British pensioners set to lose bonds worth a total of £46m may revive legal action against the bank that issued them.

The government has confirmed the credit crunch which plagued markets in 2008 has returned.

The FTSE 100 has moved 3% higher after the world's major central banks announced a move to boost liquidity within the financial system.

The yield on 1-year German bunds turned negative today for the first time ever, according to Bloomberg data, as the European Central Bank looks set to ramp up measures to fight the debt crisis.

Ratings agency Fitch has said the updated fiscal and economic projections from the UK's Office for Budget Responsibility mark a "significant deterioration" in prospects.

Today the People's Bank of China (PBC) has slashed reserve requirements for all banks by 50 basis points from December 5.

Eurozone finance ministers agreed to allow the EFSF to fund partial protection on government bonds, but plans to extend overall funding to the €1trn target were dealt a blow last night.

As George Osborne reveals the Office for Budget Responsibility has revised down growth forecasts in the UK and government borrowing has moved higher, fund managers and economists give their view on 2011's Autumn Statement.

Struggling Hungary has moved to raise its benchmark interest rate from 6% to 6.5%, the highest ever level seen in the European Union, in order to protect its currency.

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