G-7 Finance Ministers meet at Treasury Department in Washington

British Central Bank Governor Mervyn King poses for a photograph at the Treasury Department in Washington on October 19, 2007. (UPI Photo/Alexis C. Glenn)

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King says BOE may cut rates again

LONDON, Nov. 25 (UPI) -- Bank of England Gov. Mervyn King said Tuesday the central bank may need to cut rates to stimulate the country's sluggish lending.

Economists say British recession has begun

LONDON, Oct. 24 (UPI) -- The British economy posted a gross national product decline in July-September, falling 0.5 percent and indicating it was officially falling into a recession.

Crude oil prices slide Wednesday

NEW YORK, Oct. 22 (UPI) -- Crude oil prices slid again Wednesday on the New York Mercantile Exchange as the dollar continued to gain strength against the euro.

Bank gov. says Britain entering recession

LONDON, Oct. 22 (UPI) -- Bank of England Gov. Mervyn King said the British economy was headed toward a recession, prompting a quick fall of the pound against the U.S. dollar.

Inflation jumps in Britain

LONDON, Sept. 16 (UPI) -- Inflation in August jumped more than expectations in Britain, reaching 4.7 percent, the Office for National Statistics said.

British pound sinks on banker's remarks

LONDON, Sept. 11 (UPI) -- The British pound slid to a 28-month low against the U.S. dollar Thursday after a key policy maker predicted rising unemployment.

Recession risk looms in Britain

LONDON, Aug. 14 (UPI) -- The governor of the Bank of England said there were signs the British economy could fall into a recession by the end of the year.

Walker's World: European economies unravel

PARIS, July 21 (UPI) -- Europe's economies are running into trouble fast -- or are they? Foreign investors and the central bank don't think so.

Inflation in Britain hits 16-year high

LONDON, June 17 (UPI) -- Inflation in Britain hit a 16-year high in May, prompting an explanatory letter from Bank of England to the country's Chancellor, officials said.

Bank of England maintains interest rates

LONDON, June 5 (UPI) -- Falling house prices did not stop the Bank of England from maintaining its key interest rate at 5 percent Thursday, economic observers said.