The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to continue with its programme of asset purchases financed by the issuance of central bank reserves and to increase its size by £50 billion to a total of £125 billion.

The widely expected and predicated news in the UK that the BOE (Bank Of England) would keep interest rates at 0.5%, was confirmed earlier this afternoon, leading some to think about what the next steps are to fighting our way out of the recession. Realistically, there can only be on further rate drop, which would take us to a record low and leave interest rates at 0%, something none of our generation would have seen before.

Charles Moore of the Telegraph criticises the leadership of Gordon Brown, Britain's Prime Minister, and the consensus of expert opinion that has so greatly damaged the UK's economy.

The UK Government will invest more money in scientific research “than at any time in the country’s history”, the Prime Minister has said.

With the global economic downturn intensifying in the past two months, the Government is today announcing a comprehensive package designed to reinforce the stability of the financial system, to increase confidence and capacity to lend, and in turn to support the recovery of the economy.

The Prime Minister of UK and the Chancellor have announced new measures to bring stability to the banking sector and ensure the resumption of lending to families and businesses across the UK.

British prime minister Gordon Brown and Chancellor Alistair Darling will hold a press conference in 10 Downing Street at 09:00 GMT on Monday 19 January.

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.5%. RFERL says Bank of England has not seen interest rates these low since the 17th century.

The British economy will suffer next year as it experiences the worst setback among the G7 countries. This reflects an especially pronounced reverse to consumer spending, which will fall by 3.4 per cent in 2009, easily the biggest decline among the G7.

Record levels of British businesses experience extraordinary growth results as UK ranks fourth in 'super growth' worldwide league tables. Business in Armenia achieves 38% super growth. India and Hong Kong fall outside the Top 10 for the first time.