The Bank of England’s (BoE) agenda still includes a likely rate rise in spite of China's economic meltdown, Governor Mark Carney has said.
A decisive Monetary Policy Committee meeting at the end of the year will still go ahead in the face of global stock markets being hit hard by the movements of the Shanghai share index, with Carney claiming “recent events” wouldn't force a change in strategy.
Eurostat has reported that the Eurozone inflation rate held steady at 0.2% in July.
The figure, which is well below the target of the European Central Bank (ECB), represented a big disappointment for backers of the monetary stimulus approach, which promised a swift answer to slow growth across the continent.
A new survey from Lloyds Bank suggests that cash may soon become extinct as more Britons switch to alternate methods of making payments.
The increasing popularity of contactless payments and the continuing rise in debit and credit card use means that a quarter of Britons think they will not be using notes and coins within only five years.
The chairman of KPMG has weighed in on the future of the mature audit business by claiming that the UK's largest auditors have a public interest commitment to retain them.
In the face of more lucrative growth prospects and changing industry demands and regulations, Simon Collins, KPMG's UK chairman, told the Financial Times he felt the profession "can't afford" to reduce client choice.
The continuing fallout from China's current domestic financial problems has hit stock markets in London, Paris and Frankfurt as investors become more concerned about the state of the world's second largest economy.
Shares fell sharply with London's FTSE 100 index down by 2.6% in morning trades while counterparts in France and Germany fell by almost 3%.
A mix of official data and estimates by NN Investment Partners, an investment bank, has revealed that the 19 largest emerging market economies saw a total net capital outflow of around £600bn ($940.2bn) over the past 13 months.
The bank, based in the Netherlands, reported the figure, which is almost double the net outflow in a nine-month period following the 2008 banking crisis.