Professor David Blanchflower a member of the Bank’s Monetary Policy Committee (MPC), has spoken out claiming that the financial meltdown we are experiencing at present may be longer and more far reaching than the 1929 stock market crash. He is advocating a big cut in interest rates and he may well get his wish today. [...]

The MPC has made the decision that had been widely expected, to hold interest rates at 5%. This was despite calls from business leaders to cut borrowing costs amid growing concerns about the economic slowdown.
The news has been full of reports suggesting the UK was at risk of recession. This week there have been major [...]