BANK OF ENGLAND

J Sainsbury, the retailing and financial services and property investment group, expects customers to spend cautiously in 2012, particularly in first half of the year. Although the short term remains challenging, key events later in the year, such as the Queen's Diamond Jubilee and London 2012 Olympic and Paralympic Games provide opportunities for growth.

Britain's slow and steady economic growth helps it in avoiding recession, followed by upbeat data and last week's Greek debt restructuring. The Bank of England holds its asset purchase programme at £325 billion, as economists predicted 0.2 per cent growth in the current quarter.

Economists and financial analysts caught out by surprise surge of retail sales figures across UK despite gloomy outlook.

Eurozone crisis following Greek default would put UK economic recovery at risk, says Bank of England.

Inflation at lowest point since November 2010.

UK's five biggest banks miss lending targets for smaller businesses, says Bank of England.

Confederation of British Industry predicts Britain will avoid recession and see growth in second half of 2012.

£50bn QE 'printing money' programme to boost economy by buy up high-quality company assets, Monetary Policy Committee announces.

Bank of England to lose independence during economic crisis under new government proposals.

Britain's economic growth contracted by 0.2 percent in the last quarter of 2011, fuelling fears that Britain is tumbling into a double-dip recession.

Retail sales crept up 0.6 percent in December from previous month, amid widespread price drops by struggling retailers.

UK inflation has fallen to 4.2 percent for December, in the Consumer Price Index's third consecutive drop.

Bank of England Monetary Policy Committee hints it will increase quantitative easing while base rate stays unchanged.

UK inflation has fallen from the 5.2 per cent mark in October to 4.8 per cent last month bringing a welcome respite to the Bank of England.

The eurozone rescue deal briefly outlined Friday by the German chancellor and French president hasn't gone down well with Standard & Poor's, but the "Big Bazooka" Summit? Not if Bundeskanzlerin Merkel has her way.

2011 was a very difficult year for business and there are few signs that 2012 will be any better.

The central banks of Europe have begun preparing contingency plans to re-print old currencies should the euro perish amidst the eurozone crisis.

With just under a week before the European Commission, the eurozone is on a knife edge. The International Business Times UK outlines the possible scenarios for the euro in 2012.

Manufacturing in the UK is shrinking at its fastest rate for almost two and a half years in a trend that is likely to lead to more job losses.

The governor of the Bank of England, Mervyn King, has stated his intentions to look after the UK banks “whatever direction the debt storms come from.”

Figures showing just 0.5 per cent growth for Britain's GDP remain unchanged after a second estimate.