Mark Carney

Mark Carney said UK interest rates could rise before next May's general election if there are continued sustainable improvements in the economy, according to a report.

The governor of the Bank of England, Mark Carney, has warned the 2% target for inflation became a "dangerous distraction" for the UK's policymakers.

Analysts suggest the Bank of England may look to an unlikely source for interest rate guidance after New Zealand today became the first developed market to raise rates since the financial crisis.

Bank of England governor Mark Carney has said rates could be as high as 3% over the medium term, endorsing comments made by colleague Charles Bean earlier this week.

A leading Bank of England policymaker has said the base rate is likely to rise in "spring 2015" in unusually revealing comments made this afternoon.

The Chancellor of the Exchequer has warned Scotland it will lose the pound if it votes to become independent from the rest of the UK.

An independent Scotland would have to compromise its sovereignty if it wants to remain in a sterling-based currency union, BoE governor Mark Carney has warned.