Bank of England

Indices across Europe are expected to open flat ahead of the anticipated moves from the ECB to cut interest rates and a further injection of QE from the Bank of England.

The Bank of England's deputy governor Paul Tucker has asked to be allowed to address the Treasury Select Committee following the revelation he contacted Bob Diamond to discuss Barclays' LIBOR submissions.

DIAMOND DEPARTS

Bank of England governor Sir Mervyn King has called for the current LIBOR system to be overhauled following the Barclays debacle.

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.