The Bank of England has unveiled the results of its first stress testing exercise on the UK banking system, with a mixed batch of results. The eight major UK banks and building societies were studied, with the test specifically designed to assess resilience to a sudden housing market change or a rapid interest rate rise […]
Bank of England governor Mark Carney has suggested the Bank could act to curb mortgage lending in order to allay fears that the housing market could threaten economic recovery. Such a move would mean that people are unable to take out mortgages that are worth many times their salary when they want to purchase new […]
Savers across the UK are withdrawing money at the fastest rate for almost 40 years, according to the Bank of England. The last 12 months have seen £23bn taken out of long-term savings accounts, the equivalent to £900 for every household across the whole of Britain. Many have either spent the cash or switched their […]
The UK is deeper in recession than originally thought, as figures from the Office for National Statistics show that the economy shrank more than previous estimates had stated.