It's been the biggest economic story of 2007 - the credit crunch. It started as a crisis in the US sub-prime market and spread across the Atlantic to affect the UK economy.

In September, the BBC revealed how the Bank of England had agreed to give emergency financial support to the Northern Rock, one of the UK's largest mortgage lenders.

And last month the Bank of England turned much more gloomy in its forecast for the UK economy. In its first report since the August credit crunch, the Bank said it expected a sharp slowdown in UK domestic growth in the next year - and higher inflation as well. Mortgage lenders have also been warned the global crunch could get worse.

Earlier this month, The Bank of England cut UK interest rates for the first time since 2005, amid signs that the economy was slowing. So what has this meant for business, for banks, the housing market and savers and borrowers?

In the last Wales@work of 2007, Nick Servini and guests look at the impact of the credit crunch so far, and consider the economic forecast for 2008.