A clearer picture on consumer spending may emerge this week as firms including Diageo are among those due to issue updates.

The Bank of England today cut interest rates by 1.5% in its most dramatic attempt yet to rescue an economy on the brink of recession.

Bank of England rate setters are expected to slash the cost of borrowing by up to 1% this week in a dramatic attempt to stave off a deep recession, experts said today.

Bank of England rate-setters begin their latest two-day meeting today under increasing pressure to stave off a looming recession.

British borrowers could be spared another rate hike this year after the Bank of England today held interest rates at 5.75% amid growing unease over the impact of recent financial turmoil.

The Bank of England is widely expected leave interest rates on hold at 5% this week.

British homeowners were today preparing for an imminent hike in mortgage repayments with a further rise on the cards early next year.

Bank of England governor Mervyn King today said the threat of higher inflation around the world was creating uncertainty for the global economy.

Soaring energy bills lifted inflation to a seven-month high last month and above the Bank of England's target of 2%, official figures showed today.

The Bank of England may have underestimated the impact of the British housing market slowdown on consumer spending, a report showed today.

Bank of England governor Mervyn King tonight ruled out a knee-jerk reaction to any signs of a slowdown in consumer spending.

London shares trod water today as investors held their breath ahead of the Bank of England’s interest rate announcement.

The Bank of England is set to give homeowners a break from higher mortgage costs this week by keeping interest rates on hold.