Bank of England

Bank of England governor Mervyn King said he voted for more QE at the last meeting of the MPC because he is fearful over the outlook for Asia, emerging markets, and the US, as well as the ongoing eurozone crisis.

The Bank of England should pump £50bn more into the "stalled" UK economy to kick start the recovery, according to MPC member David Miles.

Jim O'Neill, the chairman of Goldman Sachs Asset Management (GSAM), would ditch inflation targeting if he replaced Mervyn King as the Bank of England governor as the measure has been "insufficient" over the past decade.

The Bank of England has warned hedge fund managers the eurozone crisis could result in a clampdown on their activities.

The Bank of England's Monetary Policy Committee (MPC) voted five to four to maintain quantitative easing (QE) at £325bn this month, overruling the governor and three colleagues who called for further expansion.

The drop in inflation announced yesterday has paved the way for another round of quantitative easing by the Bank of England as early as next month, reports suggest.

The UK's inflation rate posted another surprise drop in May, falling to 2.8%, as the lack of activity in the UK continues to bring prices down sharply.

Europe's major markets are climbing today ahead of the Greek elections, and following the Bank of England's unveiling of a £100bn stimulus package for the UK economy.

UK bank shares have jumped following last night's announcement of a £100bn stimulus package for the UK economy.

The UK Chancellor George Osborne and the Bank of England's governor Mervyn King have unveiled a £100bn package to prop up the UK's flagging economy and protect it from the encroaching eurozone crisis.