Bank of England

The Bank of England (BoE) could lower the unemployment target it has said must be reached before it raises interest rates, according to some experts, as jobless figures fall faster than expected.

Monetary Policy Committee minutes reveal unwillingness to raise interest rates after unemployment falls

The National Institute of Economic and Social Research says unemployment rates could fall to 7% by 2014

The Bank of England will intervene in banks and building societies' mortgage lending if they appear to be stoking a house price bubble, its governor has warned.

Charlie Bean, the deputy governor of the Bank of England (BoE), has said the Bank has sent a "clear signal" it won't increase interest rates anytime soon as he expressed some surprise at investors' reaction to its position.

Most members of the Bank of England's Monetary Policy Committee (MPC) backed their new governor's policy of forward guidance on interest rates, minutes from the Committee's latest meeting show.

Paul Tucker, deputy governor for financial stability at the Bank of England, is to leave later this year after more than 30 years of service.

Outgoing Bank of England governor Sir Mervyn King is to appear on BBC Radio 4's Desert Island Discs on Sunday.

The Bank of England has held interest rates for the 50th month in a row and opted not to increase the size of its QE programme at its May meeting.

Sir Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.