Markets

ALTERNATIVES

FINANCIALS

It is "not unreasonable" for investors to anticipate a 2% base rate as early as 2016, but increasing rates is still considered a last resort to tame the housing market, according to Bank of England policymaker David Miles.

The Nikkei has closed 3.1% higher at 14,843 after the Bank of Japan (BoJ) said it would double the size of two lending programmes in a bid to prop up credit growth.

Jonathan Pines, manager of the Hermes Asia ex Japan Equity fund, has named five stocks that helped him beat competitors in his peer group last year.

Britain must see a business recovery before interest rates can begin to rise, according to Mark Carney, the Governor of the Bank of England.

COMMENT

Weaker US data and ongoing expectations of tighter UK monetary policy have helped boost gold and sterling respectively as the dollar loses ground.

Lloyds CEO Antonio Horto-Osorio has been forced to defend his £1.7m bonus, claiming it is in the interests of the taxpayer.

Scottish first minister Alex Salmond has accused the three main UK parties of "bluff, bluster and bullying" after they rejected plans to share the pound with an independent Scotland.