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Businesses welcome Bank’s interest rate decision


Economists and business organisation representatives about the Bank of England's interest rate decision


UK foreign reserves up 3.8% to $90 billion


The Government has increased the nation’s international reserves holdings


Pay increasing at half the rate of inflation


Pay has increased so far this year by less than half of retail price inflation.


Business groups once again urge Bank to maintain rates


The Bank of England's Monetary Policy Committee will convene today to decide on whether or not to raise interest rates.


Lloyds Group slips £3 billion into the red


Lloyds Banking Group (LSE: LLOY) posted pre tax losses for the first quarter 2011 in excess of £3.4 billion, compared to the same quarter 2010’s £721 million profits.


PFIs no longer suitable for many projects


The government must do more to secure value for money from their extensive experiments with private finance initiatives (PFI), the National Audit Ofice said today.


Lending to small businesses remains rock bottom


Despite measured implemented to increase banks’ lending to small business, lending has plummeted to its lowest rate since the financial crisis began, according to figures released last week by the Bank of England


Rise in UBS profits belies volatility of global economy


Fresh signs that the global economic recovery is underway came as Swiss banking giant, UBS, posted a jump in profits for Q1 2011 to 2.2 billion CHF, up from 1.2 CHF for Q4 2010.


Drop in borrowing shows austerity plan is working


Figures published today by the Office for national Statistics showed Public Sector net borrowing drop 7% in March compared to the previous year, even undercutting the Office for Budget Responsibility’s estimate


Public Sector borrowing falls, though still 2nd highest since 1945


Public sector borrowing during March 2011 decreased by just under 7% over March 2010, the Office for National Statistics has revealed.