Mervyn King

Sterling jumped across the board after the Bank of England's latest report said inflation is likely to remain above target for longer, fuelling expectations the MPC will act sooner to tackle price rises.

Bank of England governor Mervyn King has warned the extended holiday to celebrate the royal wedding last month will hurt GDP growth.

Artemis' fixed income star James Foster says the governor of the Bank of England needs to raise rates now to prevent inflation becoming embedded in the system.

Inflation targeting is failing the UK economy. It is time for the coalition government to reassess it.

The governor of the Bank of England has warned inflation could top 5% because of rising inflation expectations and higher commodity prices.

The Monetary Policy Committee (MPC) are split 6-3 against a rate rise for the second month, with opinion divided on how to tackle soaring inflation without snuffing out growth.

UK annual inflation is set to hit 4.2% for February, more than double the Bank of England's target, forecast economists in an IFS report.

Several fund managers have warned the Bank of England is underestimating inflation in the UK, and they expect it to be higher for longer than predicted.

Bank of England governor Mervyn King has not ruled out another round of quantitative easing and has reiterated his belief the UK recovery will be choppy.

The Chancellor has defended the Bank of England over rising inflation and denied the government is making its job more difficult.