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Q2 growth at 0%, says ONS

The UK has begun the slow march into recession, statistics from the Office for National Statistics reveal today.

The ONS report shows that in Q2 2008 the country entered into a period of zero growth.

A recession is defined as two consecutive quarters of negative growth.

The figures are the worst for 16 years but are consistent with dire forecasts that have been made over the past few months.

Some experts suggest the news will spur a cut in interest rates while others believe the UK is months away from another base rate trim.


Up and down

Mole had to stifle his laughter last week after receiving a frantic call from Lending Strategy editor John Murray.

How internet banking wrecked the Rock

Research by suggests that the growth of internet banking and the failure to effectively manage Northern Rock’s website were primary factors in the development of the run on the bank – that is, once BBC business editor Robert Peston had reported that it had applied for emergency financial support from the Bank of England.

BoE injects additional £30bn into market

The Bank of England has pumped an additional $30bn (£16.8bn) into the market today.This is alongside the continuing operations under the swap facility to lend $10bn of funds overnight, and the outstanding one-week operation for $30bn conducted last Friday. These operations will therefore bring the total provision of US dollar liquidity by the BoE to […]

MortgageStream teams up with Lime Network

Lime Mortgage Network has added the MortgageStream system to its panel of products and services available to its appointed representatives and directly authorised members.

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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