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BoE Governor: Interest rates will stay very low 'for some time'

The Bank of England Governor has reassured borrowers that interest rates will stay very low "for some time" after the unemployment rate fell to just 0.1% above the 7% threshold at which he originally said the Bank will consider putting rates up.

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Osborne: Claims of Bank guidance failure are 'laughable'

Chancellor George Osborne has dismissed claims that the Bank of England policy of providing forward guidance has failed as "laughable".

Mr Osborne told Channel 4 News: "I think that is completely wrong. The idea that it is a failure because your unemployment rate is falling is laughable.

"The credibility of the Bank of England, of the British Government's economic policy is clear there in the markets."

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