The lending spree is over.  It will be a while before credit and risk are re-acquainted.  It is symptomatic of the latest squeeze that virtually every rule of sound banking was ignored. If, in the 1990s, conventional risk assessment dictated that mortgages should not exceed either 90 per cent of the property’s value or a […]

Since gaining its independence from the Treasury 10 years ago the Bank of England’s pledge to control inflation as its overriding priority has, until now, been visibly honoured and we have all benefited. Unlike the Treasury, however, the Bank’s sole weapon in fulfilling its mission is its autonomy over setting interest rates, and the present […]