New £5 note made available to the public

The Bank of Enlgands new £5 note has been announced, which for the first time in British history is made out of polymer. The switch to the longer-lasting notes will save roughly £100 million as the notes are waterproof, crinkle proof and tear resistant. The old £5 bill, which carries a picture of social reformer Elizabeth Fry, will remain in circulation until next year but it will cease to be legal tender on 5 May 2017 15 days ago

Mark Carney: Now is not yet the time to raise interest rates

Bank of England Governor Mark Carney said on 19 January that he did not have a set timetable for raising British interest rates and wanted to see faster growth and stronger underlying inflation first. Carney said global and domestic growth had proved weaker than he had expected in the middle of the year, when he predicted that a decision on when to raise interest rates would have come into sharper relief by early 2016. Jan 19, 2016