Northern Rock Asset Management, the so-called "bad bank", posted net pre-tax profit of £350m whereas "good bank", Northern Rock plc suffered loss of £140m for its first six months as an independent co

According to the Central Bank, the economy is expected to grow between 2 and 3 percent by 2011.

On account of the news on the Basel III capital reforms, an upsurge in the profits of UBS and the rising confidence after the completion of stress tests, the French banks raised to 10%, which is a thr

After the announcement of capital requirements, French banks are expected to benefit the most from these measures.

The Spanish banking sector that witnessed a strong thrashing by the EU-wide stress test results unveiled on Friday, reportedly registered a rise on Monday, accompanied with other European banks, as well.

On Monday, shares of France's three biggest banks by market capitalization saw a surge. It came after they undertook EU-wide stress tests, which was intended to analyze their financial status. The Bank of France said late Friday that the banks were able to pass the tests with a broad margin.

Peter Spencer, Chief Economist of the Ernst & Young Item Club, warned the Bank of England to keep the interest rates at the lowest record of 0.5 percent till the beginning of 2014.

The interest rates will be kept on hold as the spending cuts by the government to narrow the deficit of £155bn will slow the pace of economic recovery.

On Thursday, Bank of Canada released its monetary policy report. The interest rate has been hiked to 0.75%, rather than a previous forecast of 0.25%. The underlying reasons for the same have not been told by the bank.

The bank projected that the GDP to grow by 3.5% this year, 2.9%in 2011 and 2.2% in 2012.

It also gave other statements which are stated below.