The Bank of England held the official interest rate at 0.5% as expected.They have forecast that inflation will remain above the target of 2% for the next 2 years but economic recovery will be weak and uneven.
Growth in the USA appears to be picking up as they are benefiting from more government stimulus for their economy than we have had in the UK and Europe.
The banking crisis in Cyprus has implications for other banks in the Eurozone.The immediate effect is that Cyprus banks have very little capacity to lend which could cause a depression in the country.The nature of the forced bail-in by large depositors and bondholders has caused them large losses and, in future, banks in the Eurozone are likely to be more cautious in their lending which will prolong the austerity in the Eurozone even more.
HMRC warns of Self Assessment scams 
Inflation rose to 3.8% in July 
Vernon Building Society launches financial education campaign for 13-21 year olds