Bank of England

Markets are hoping for further economic stimulus as the European Central Bank and the Bank of England embark on policy meetings later today.

A top Bank of England economist has said his profession should take part of the blame for the financial crisis, according to the Telegraph.

Developed nations are stuck in a "never-ending cycle of recession" which will lead to a huge growth crisis in the summer of next year, Ignis' chief economist Stuart Thomson has warned.

Last week the yield on UK gilts dropped below US treasuries as the Bank of England's quantitative easing programme continued to impact the market.

The Bank of England said it may reconsider the case for cutting interest rates once the impact of the new funding for lending scheme becomes clear.

Bank of England deputy governor Paul Tucker came under fire again today as an email emerged showing he had discussed LIBOR rates with HSBC and RBS, as well as Barclays, back in 2008.

Bank of England governor Mervyn King will appear before MPs at the House of Commons this morning to give evidence on the UK's financial stability and the state of the economy.

The former chief operating officer of Barclays, Jerry del Missier, has told MPs Bob Diamond instructed him to lower the bank's LIBOR submissions, on the orders of the Bank of England's deputy governor Paul Tucker.

Head of the Financial Services Authority (FSA) Lord Turner is set to face criticism from MPs today over the watchdog's slow reaction to LIBOR abuses, according to reports.

The US Treasury Secretary Tim Geithner warned Mervyn King and colleagues at the Bank of England about problems with the LIBOR rate in 2008, years before the scandal was revealed.