The Bank of England wrong-footed investors by keeping interest rates on hold, but held out the prospect of a stimulus package soon to help the economy cope with Britain’s decision to leave the EU.

In normal circumstances, the Bank of England might be close to pumping more stimulus into Britain’s economy, given recent signs of a sharp slowdown in growth and a rise in the number of people out of work.

The Federal Reserve’s debate over whether to raise US interest rates in June may be decided soon, as investors look for any cracks in China and evidence of a solid start to the second quarter in the US.

Workers’ pay in Britain grew at a slower than expected pace in the three months to October, suggesting the Bank of England will take even longer to raise interest rates from the record low in place for nearly seven years.

British mortgage approvals surged by the most in six years in April and lending to individuals also rose sharply, underlining the clout of the country’s consumers, but also its reliance on them to drive the economy.

An Irish software firm is to create 30 jobs as part of an ongoing expansion, with the majority to be based in their Dublin office.

A record rise in the number of people in work has helped unemployment fall to a five-year low but Britain’s workers have been squeezed by a dramatic slowdown in pay growth.

The Bank of England will hold interest rates at record lows once more tomorrow, amid speculation it will have to change the threshold for considering a hike in the cost of borrowing within months.

British retail sales rose at their fastest annual rate in over two years in July as a heatwave boosted sales of barbecue food and outdoor items, adding to signs that third-quarter growth has got off to a strong start.

A scheme in the UK aimed at boosting credit to households and businesses has so far failed to get banks and building societies to lend more, figures showed today.

The ECB will keep interest rates unchanged this week, economists forecast in a Reuters poll, but they cannot agree on the chances of a cut in the next few months due to a murky economic outlook.

For the tenth month in a row the manufacturing sector continued to grow, but the engine of the Irish recovery looks to be running low on steam.

Britain rebounded strongly from recession in the third quarter, posting its strongest quarterly GDP growth in five years, boosted at least in part by Olympics spending, official data showed yesterday.

Hopes of an end to Britain’s recession woes were dashed today when official figures showed that the manufacturing sector suffered a shock fall in output during April.

The Central Bank will prioritise legislation on mortgage arrears over the next year it said yesterday.

The Bank of England is widely expected to pump billions of pounds into the UK economy this week despite signs that the UK’s financial health may be starting to improve.

SCOTIABANK Ireland has been fined €600,000 by the Central Bank for several breaches of banking regulations.