Bank of England

Stanley Druckenmiller, the manager who helped George Soros make $1bn by ‘breaking' the Bank of England, plans to retire after thirty years in the industry.

THE LEADER

The Bank of England has revised down its forecast for UK economic growth and expects inflation to remain above the 2% target until the end of next year.

Bank of England governor Mervyn King says growth is going to be weaker than previously expected and inflation is likely to above the 2% target until the end of 2011.

The Bank of England is today expected to lower its economic growth forecast for the UK and raise its expectations for inflation next year.

The Bank of England is likely to cut the UK's economic growth forecast by 1% for both and this year and 2011.

Bank of England's Monetary Policy Committee (MPC) today held interest rates at 0.5% - marking the 17th consecutive month they have been held at the historical low.

Interest rates will have to rise earlier and more sharply than expected to keep inflation under control, warn two former Bank of England policymakers.

Mervyn King wants a new breed of regulators focused on public service and not huge banking-style pay packages when responsibility for financial regulation transfers from the FSA to the Bank of England in 2012.

Bank of England (BoE) Governor Mervyn King has issued a stark warning to MPs "not to read too much" into recent strong GDP figures.