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This is Money
America's central bank has voted to maintain interest rates at 2pc as it continues to worry about the threat of inflation to the wider economy. The Federal Reserve's Open Markets Committee (FOMC), chaired by Ben Bernanke, agreed to hold rates for the second month in a row as it continued to battle low economic growth and rising inflation.
Federal Reserve holds US interest rates
Crude oil prices sank below $118 a barrel amid declining demand and hopes of increased production. In London, a barrel of Brent crude was trading down $2.81 at $117.87 in the afternoon, while in New York, the price of a barrel of oil touched $118.
Oil's retreat continues as it sinks below $118
Edward Meir, analyst at MF Global, said: "It seems that the market is losing interest in geopolitical and weather-induced 'props' and instead is becoming more aware of growing supply/demand imbalances."
Energy: Plummeting oil price raises hopes of inflation easing
Stamp duty on properties worth up to 250,000 could be suspended as part of an aid package for the housing market that will be central to Gordon Brown's attempt to relaunch his premiership this autumn.
Brown may gamble on stamp duty
The number of people losing their homes after failing to meet mortgage payments jumped by 40 per cent in the first three months of this year.
Repossessions rise 40% as mortgage arrears worsen
Consumers plan to cut their spending over the next year on everything from supermarket food to short breaks and eating out as they struggle to cope with the growing squeeze on their income.
Credit crunch leaves consumers tightening the purse strings
London hedge fund manager Crispin Odey has just paid himself 28m after tripling his firm's profits last year. But what exactly do these outfits do, how do they make a fortune in a slump - and can anyone start one? Andrew Clark explains the 10 steps to becoming a 'hedgie'.
How to set up a hedge fund
A trainee local authority accountant used more than 44 million of the council's money to play the stockmarket, it emerged today. Andrew Pate borrowed the money on behalf of Newcastle-under-Lyme council in Staffordshire - almost tripling its debt in the process.
Trainee accountant used council's money to play stock market