Bank of England edges closer to interest rate rise

The Bank of England signalled it is edging closer to a rise in interest rates but admitted it is in the dark about the true state of the British economy.

Austerity has hurt UK growth, says OBR

Austerity measures may have damaged growth in the British economy more than originally assumed, said the Office for Budget Responsibility (OBR), the government’s independent economic forecasting body.

Britain's economy slumps for 3rd straight quarter

NEW YORK (CNNMoney) -- The British economy slumped for the third consecutive quarter, adding to the economic concern throughout Europe.

Europe pushes ahead with fiscal union, UK isolated

BRUSSELS (Reuters) - Europe secured an historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday, but Britain, the region's third largest economy, refused to join the other 26 countries in a fiscal union and was left isolated.

Britain blames euro crisis for lower growth

LONDON (AP) — The British government blamed the euro crisis for a big downgrade of the country's growth projections and warned that it will only achieve its deficit-reduction goals if European leaders deliver a big, bold solution soon.

David Cameron: 'British economy is getting worse as euro crisis goes unresolved'

The British economy is getting worse “every day” that the euro crisis goes unresolved, David Cameron has warned, as he told European leaders that the “world cannot wait” any longer for a rescue package to be agreed.