Bank of England to release its balance sheet today

Today will see the Bank of England release their balance sheet for the year ending 31st March 2008, and it is looks as though it will make some interesting reading considering the year that we have had.

In the balance sheet it is expected to contain details about the level of debt that Northern Rock owes. According to financialadvice.co.uk, they believe that the figures will show that groups has increased payments, also that the Bank will be down about £19 billion.

Most of the interest in this Bank of England balance sheet will be centred on the £50 billion bail out of the UK bank system earlier this year, there is also speculation that this could be extended.

Once the balance sheet has been released you will hear the City working away looking at figures that Gordon Brown gave us over strict borrowing ratios.

One thing is certain; the balance sheet is not going to be a boring read, well not if you want to know how much we have had to pay out just to rescue Northern Rock.