UKIP economics spokesman Dr John Whittaker MEP noted: "The European Central bank ought to follow the Bank of England's interest rate cut, but being the central bank for 16 different countries gives it a problem." He was commenting after the Bank of England reduced its official Bank Rate from 2% to 1.5%. "All the signals say that the ECB should cut rates at its meeting next week. Euro inflatio...

Yet again we’ve got this story of how horrible the banks are being in the way they price their mortgages. However, banks and building societies have been accused of cynically manipulating the rates on offer to deprive new borrowers from benefiting from recent base rate cuts. The rates on offer are now comparable to the uncompetitive

Gordon Brown has raised the prospect of fresh international action to cut interest rates and stimulate the global economy. Mr Brown used an interview to hint that falling interest rates may lead to rate cuts by the Bank of England and central banks around the world, raising the prospect of another co-ordinated cut like this month's 0.5 point reduction to calm the financial crisis.

There are some worried people in Brussels. As the financial crisis deepens, there have been cases of unrest throughout the European Union, especially with the BNP supported wildcat strikes in the UK. Will the far-right gain from a protest vote, inspired by the political stalemate and financial crisis? There are a couple of factors for the UK. What will the Conservative party do? Cameron's ele...

As the political row gets going about changes in interest rates getting passed onto borrowers (or not ), I realise that I don't fully understand the mechanism by which this all works. The Bank of England web site says: The Bank of England sets an interest rate at which it lends to financial institutions. This interest rate then affects the whole range of interest rates set by commercial banks...

The impact the financial crisis has had on the real economy was laid bare yesterday with figures showing unemployment rising at its fastest rate for 17 years.

The world's financial markets rallied yesterday amid hope that fresh efforts to fix the European sovereign debt crisis would offer respite from the turmoil of recent weeks, in spite of Britain's veto.

EU leaders are to discuss multi-billion-euro rescue plans for Europe's ailing banks at a two-day summit in Brussels. European heads of state meet in Paris to try to establish a common approach to the global financial crisis.

Yes! The federasts are out in force, peddling their nonsense amongst us. The financial crisis means we must join the euro! Jebus wept. Just as we’re seeing what a single interest rate is doing to Spain, Ireland and the like, we’re told that we should subject ourselves to that same single interest rate. Nutters, the lot of ‘em, nutters.  

Irish Prime Minister Brian Cowen told his counterparts at the Brussels EU summit on Wednesday (15 October) that the financial crisis and the recent war in Georgia showed "the critical value" of membership of the EU and the euro zone.