Several of the world’s top central banks will meet in the coming week, but only one, the US Federal Reserve, is set to start a final countdown on the second most anticipated event of the year after the presidential election.

Sterling yesterday continued to slide from its recent heights against the euro, eroding some of the exceptional advantages that have propelled Irish exporters, as British output figures appeared to show that the strong UK currency is punishing its manufacturing industries.

Ireland may face years more of damaging budget cuts because of the European Commission’s erroneous way of calculating structural deficits, a leading economist has said.

Last week’s first estimate of UK GDP for the opening quarter of 2014 indicated an encouraging start to the year for the economy.

The Government should be allowed to ease up on fiscal consolidation in the budget, David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee has said.

The Bank of England is expected to keep the City waiting on much-anticipated measures to lift the economy out of the doldrums when it holds its latest interest rate meeting on Thursday.

The London market lost ground today after an emergency summit between the leaders of France and Germany failed to ease fears over the eurozone crisis.

US policy-makers tonight announced further emergency measures to prop up the recovery of the world’s biggest economy.

The London market fell into the red today in the face of deepening concerns over a European debt crisis, with the banking sector bearing the brunt of the pressure.

The UK economy roared ahead with its fastest growth in more than four years between April and June, official estimates showed today.

UK interest rates were kept on hold today as policymakers maintained their “wait-and-see” approach ahead of government plans to tackle the UK’s deficit.

Britain’s economic downturn will be “more profound and long-lasting” than expected amid the worst global economic conditions for 60 years, Alistair Darling warned.

Fears of mounting inflation outweighed those of slowing economic growth as the Bank of England made a near unanimous decision to keep interest rates steady this month, it was revealed today.

Policymakers in England are set to deliver their third interest rate cut in five months tomorrow to help borrowers under increasing pressure from the credit squeeze.

The FTSE 100 Index leapt 3.5% today as beleaguered investors seized on a dramatic move from US policymakers to ease credit market turmoil.

Sterling strengthened against the dollar today after an upbeat survey on British retail sales fuelled expectations of more interest rate hikes in the UK.

Sterling strengthened against the dollar today after an upbeat survey on retail sales fuelled expectations of more interest rate hikes.

FINANCIAL markets got two surprises last Thursday, one bigger than the other. The bigger surprise was the decision by the Bank of England’s Monetary Policy Committee (MPC) to raise official British interest rates by 0.25% to 5.25%.

A dissenting voice to this month’s rise in UK interest rates said today there were no signs the economy had been “running too hot” ahead of the vote.

Northern Ireland is just one of two UK regions where annual house price inflation is still in double figures, a new report revealed today.

House prices in Britain remained static during the first half of this year as affordability constraints prevented people getting on to the property ladder, figures showed today.

The health of the UK's manufacturing sector continues to deteriorate, experts warned, after it emerged today that factory output had declined for the first time in more than two years.

The prospect of another British interest rate rise diminished further today with figures showing the weakest economic growth in the UK for nearly two years.

A golden decade for the UK economy is set to peter out this year, a senior economist has predicted.

More than half of UK homeowners expect interest rates to go up when the Bank of England’s Monetary Policy Committee meets on Thursday, according to research published today.

A tough summer for industrial-based firms was blamed today for the British economy’s weakest quarter of growth since early last year.

British interest rates were kept at 4.75% today amid signs that five rises over the last year had finally put the brakes on house prices and consumer spending.

The British housing market continued to show signs of slowing down during July, with prices rising by just 1.3%, Britain’s biggest mortgage lender said today.

British manufacturers were given a major boost today after official UK figures showed a sharper-than-expected recovery in factory output levels.

The UK is heading for a period of balanced economic growth as companies’ confidence about the future stabilises, research claimed today.

Hopes earlier in the week that share prices were now on an upward curve suffered a blow today as the FTSE 100 Index closed sharply down.

UK economic concerns were back in focus today as London’s benchmark FTSE 100 Index threatened to complete a third day in the red.

Interest rates in Britain look set to be kept on hold for the third consecutive month today, despite calls from industry for an urgent cut.