Bank of England

Bank of England governor, Mervyn King, says RBS and HBOS were within hours of a liquidity shortfall on 6 October 2008, and the day after, as the country's financial system came to the brink of collapse.

It is working and the MPC should go further if necessary

Royal Bank of Scotland is to consider a £3bn-£4bn share issue to reduce the stake it would hand to the government for joining its toxic assets insurance scheme and has approached its biggest investors about the idea, the FT reports.

Unemployment in the UK rose by 210,000 to 2.47m in the three months to July, which is the highest level since May 1995, according to the ONS.

UK inflation has fallen to its lowest level in over four years, according to official statistics.

Back to school. Back to work. Back to reality. Back to facing the first anniversary of the collapse of Lehman Brothers.

Over the past quarter, we have witnessed the continuation of the corporate bond market rally, with optimism levels seemingly high over future growth.

The UK stock market feels less volatile, and there are tangible signs of stabilisation and incremental improvement in the global economy.

Expectations that the July IPD Monthly Index would show an increase in capital values after two years' declining figures were not met, falling short at -0.1%.

Mervyn King was outvoted by fellow policymakers in his attempts to pump even more money into the economy this month.