The British Chamber of Commerce has revised it's forecast for UK growth this year, down to just 1.1% from 1.3% and is looking to the Government to provide further stimulus to a basic flatline economy.

Markets also feel that further stimulus from the US is on the cards, in the shape of QE3 coming from the Federal Reserve but this is by no means certain, though for now, this possibility has stabilised equity markets globally.

Bargain hunters are starting to appear, picking up financial stocks that have taken a real beating recently, with the Footsie losing over 7% in the month of August alone.