The new governor of the Bank of England (BoE), Mark Carney, has announced that the central bank will not raise interest rates until U.K. unemployment hits 7 percent. In July, it stood at 7.8 percent.
The Bank of England is expected to follow the US Federal Reserve when it issues new guidance on setting interest rates on Wednesday.
The Bank of England is expected to signal this week that interest rates will remain low for several years to spur the economy, despite growing evidence that the recovery is gathering pace.
Britons are feeling more upbeat about their job prospects than they have for five years, according to new research, which follows a raft of positive economic data boosting hopes the country's economic recovery is here to stay.
The US unemployment rate fell to its lowest level in more than four years last month, but the addition of 162,000 new jobs to the world's biggest economy was lower than expected.
U.K. house prices surged to a five-year high in July, according to the U.K.'s biggest building society, but the author of the new report told CNBC that talk of a housing bubble are overplayed and price moves are only "modest".
The Bank of England has voted to leave UK interest rates at their current record low of 0.5% and decided against a further round of government bond-buying, amid signs of recovery in the UK economy.
The economy is a lot bigger than we think, but no thanks to Kim Kardashian and her cohorts in the world of reality TV.
Virtual currency bitcoin has been banned in Thailand, according to a prominent bitcoin exchange that operates in the Southeast Asian country.
Business confidence among European CEOs bounced to a two-year high in the second quarter, according to a survey out on Tuesday, with executives in the region now more optimistic than those in Latin America.
In a letter Monday, Yellen called an interest rate hike "appropriate" if officials see progress toward labor and inflation goals.
George Osborne could be forced to borrow billions of pounds more than forecast by 2020 if he sticks with spending cuts that will hit economic growth, according to a report by City University.
The government’s “fixation” on the size of the state is straining vital public services and undermining social stability, according to a report from the TUC, which argues that further cuts could damage the economy.