Sterling advanced yesterday approaching its strongest level in three weeks against the euro, after Bank of England policymakers said China’s slowdown hasn’t shaken their conviction that the time for the first UK interest-rate increase since 2007 is coming nearer.

A number of Bank of England rate-setters are moving towards voting for the first increase in British borrowing costs in over eight years, adding to expectations of a split among policymakers in August.

Bank of England policy makers voted unanimously to keep interest rates on hold this month for the first time since July amid concerns about low inflation, minutes of their latest meeting revealed today.

The Bank of England is expected to leave interest rates on hold tomorrow following its first monetary policy meeting of the year.

Differences over the risks to Britain’s economy surfaced this month among the Bank of England officials who have voted to keep interest rates on hold, complicating the outlook for monetary policy.

Bank of England governor Mark Carney said there is “no immediate need” to increase interest rates, as he bolstered officials’ defence of the low borrowing costs they are maintaining.

The Bank of England put more emergency medicine for the UK economy on hold today, despite more evidence that the recovery is grinding to a halt.

Retailers in the UK suffered a further drop in sales this month but were hopeful that shoppers would loosen their purse strings before Christmas.

The Bank of England injected a further £75bn (€86bn) into the UK economy today in a bid to jump-start its flagging recovery.

The recovery in the manufacturing sector remains well on track, a business group said today, but the industry continues to predict a surge in factory-gate prices.

The recovery in UK manufacturing gathered steam today as a closely watched survey showed its highest reading for export orders in 15 years.

High street retail sales growth in the UK sped up in November but hopes are fading that the momentum will carry on into the new year when VAT rises, the CBI said today.

Order books are holding up “reasonably well” amid further signs of encouragement for the UK manufacturing sector, exporters revealed today.

British high street sales fell in early June despite shoppers splashing out on food and new televisions for the World Cup, the CBI business group said today.

CONCERNS have emerged that more major job cuts are planned for the banking sector following the implementation of the Government’s recapitalisation programme and the transfer of loans to NAMA.

British manufacturers saw output rise for the first time in two years in the three months to January as overseas trade threw the sector a lifeline, the CBI business group said today.

The first rise in UK business volumes since the onset of the credit crunch fuelled hopes of a recovery in the financial services sector today.

BRITAIN’S battered financial services sector may now be on a gradual path to recovery, according to a survey out today.

Rate-setters held back from further aid for the economy today as the Bank of England paused for breath in its battle against recession.

The Bank of England made history today by slashing interest rates to an all-time low of 1.5%.

Manufacturers are experiencing their worst price pressure for nearly 30 years, a survey said today.

Inflation fears deterred British economic policymakers from a second rate cut in as many months today.

Business volumes among financial services firms fell at their fastest rate for nearly 17 years during the past quarter as the credit crunch continued to bite, figures showed today.

Nearly half of small and medium-sized British firms believe changes to capital gains tax (CGT) will have a negative impact on their business, a survey said today.

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.

A surprise surge in overseas demand for British-made goods lifted export order books to their highest level in more than a decade, new figures showed today.

The Bank of England pegged interest rates at 4.5% for the 10th month in a row today as economists continued to predict the next change will be upwards.

British manufacturers were given a boost today as an industry survey showed export orders rose to a 10-year high this month.

The Bank of England kept higher borrowing costs at bay for millions of homeowners today by freezing interest rates for the eighth month in a row.

The recovery in UK manufacturing appears to be stuck in a low gear after demand dropped below normal levels in September, a survey showed today.

Rising oil prices and interest rates have hit confidence in British service firms but manufacturers have recorded their best spell of orders for nine years, two new surveys showed today.

UK retail sales in October grew at their fastest year-on-year rate for 18 months, according to the latest monthly trades survey from the Confederation of British Industry (CBI).