Britain's Chancellor of the Exchequer George Osborne will name the next Governor of the Bank of England in a statement to the House of Commons today.

The Bank of England could name its new governor this week amid pressure to appoint a successor to Mervyn King before the Chancellor’s autumn statement.

Bank of England boss Mervyn King told MPs he was not to blame for failing to spot the rate-rigging scandal engulfing the industry amid mounting accusations over the central bank’s role..

The former Barclays director who told staff to lower their interest rate submissions following a misunderstanding with the Bank of England will give evidence to MPs today.

If we take Bob Diamond and Paul Tucker at their word, part of the Libor scandal at Barclays can be chalked up to a series of comic misunderstandings, like a children’s game of telephone.

They say that paper never refused ink and so the global financial and economic crisis that took root five years ago has resulted in millions of column inches each and every day.

Britain’s biggest banks were tonight embroiled in a criminal investigation after the Serious Fraud Office opened an official inquiry into the rate-rigging affair.

British banking giant Barclays today saw its credit rating outlook downgraded to negative to reflect concerns over the impact of Bob Diamond's shock resignation.

The former head of Barclays apologised for the “reprehensible” behaviour of his traders who fixed interest rates, but told British MPs his bank was unfairly singled out after coming forward to admit wrongdoing.

Former Barclays boss Bob Diamond today said the bank lowered key lending rates amid fears the British government would want to nationalise the lender during the financial crisis.

Former Barclays boss Bob Diamond will make an explosive appearance before MPs today after dragging senior Bank of England and UK government figures into the rate-rigging scandal.

A phone call between Barclays boss Bob Diamond and the Bank of Englandultimately led to some of the rate-rigging actions at the heart of the ongoing banking scandal, the bank said yesterday.

It has been a chaotic week for investors, with shocks coming from major companies on both side of the Atlantic.

A phone call between Barclays boss Bob Diamond and the Bank of England ultimately led to some of the rate-rigging actions at the heart of the ongoing banking scandal, the bank said today.

The Bank of England today revealed it lent Royal Bank of Scotland (RBS) and HBOS £61.6bn (€68.22bn) in a "dire emergency" at the height of the financial crisis.

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.

Uncertainty about a slowdown in household spending and consumer prices prompted the Bank of England to freeze interest rates again this month, a report showed today.

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.

A senior Bank of England representative today cautioned against using “shock therapy” to jolt British householders out of their excessive spending habits.

Bank of England deputy governor Paul Tucker has said that at current levels, UK interest rates are still working to stimulate the economy, indicating that the bank is likely to rise its rate again.