The European Central Bank (ECB) has today opted to leave interest rates unchanged at 1.5% – for the third consecutive month. The move was widely expected. Rates were lifted from the historic low of 1% in April and then raised further in July in a bid to curb rising inflation. Many major economies are battling [...]
The European Central Bank (ECB) has today opted to leave interest rates unchanged at 1.5% – for the second consecutive month. Rates were lifted from the historic low of 1% in April and then raised further to 1.25% in July in a bid to curb rising inflation. Many major economies are battling with higher inflation, [...]
According to a preliminary estimate from Eurostat today, euro zone inflation eased in July to 2.5% from 2.7% in June. The figures come despite figures earlier this week suggesting German inflation crept up to 2.4%. Despite the fall, inflation remains higher than the ECB’s target of just below 2% – and is expected to remain [...]
The European Central Bank (ECB) has today elected to lift interest rates from 1.25% to 1.5% – the second increase since April. The move comes to tame rising inflation in the 17-member euro zone and was widely expected by analysts and more rate rises are on the cards. Inflation in the euro zone currently stands [...]
The Bank of England’s Monetary Policy Committee (MPC) commenced its two-day rate-setting meeting yesterday and interest rates are expected to remain on hold at the record low of 0.5% – where they have been since March 2009. The bank is presented with a dilemma as it comes under pressure to raise interest rates to combat [...]
The European Central Bank (ECB) has today elected to keep interest rates on hold at 1.25% but hinted that rates may rise again next month. In April, the ECB lifted rates from 1% to 1.25% in a bid to tame rising inflation in the 17-member euro zone – it was the first time in almost [...]
According to a preliminary estimate from Eurostat today, euro zone inflation eased in May to 2.7%, from 2.8% in April. Last month, the European Central Bank (ECB) raised interest rates from 1% to 1.25% – the first time in almost three years in a bid to fight inflation. However, despite the fall, analysts expect inflation [...]
The Zew economic sentiment index has revealed German analyst and investor confidence fell more than forecast in April – the second consecutive monthly drop. The index, which measures expectations of economic activity over the next six months, plunged to 7.6 from 14.1 points in March. Analysts had expected the index to hover around the 10 [...]
The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate for March tomorrow morning, with analysts expecting the annual rate to hold steady at the 28-month high of 4.4%. With inflation more than double the 2% target, many continue to speculate whether interest rates will be lifted next month. Last week, [...]
The European Central Bank (ECB) has today elected to lift interest rates from 1% to 1.25% – for the first time in almost three years. The move comes to tame rising inflation in the 17-member euro zone and was widely expected by analysts after the ECB had hinted that rate rises were on the cards. [...]
The European Union’s statistics office Eurostat has revealed inflation in the euro zone rose to 2.4% on an annual basis in February, up from January‘s 2.3%. The rate remains above the European Central Bank’s (ECB) target of just below 2% and marks the third consecutive month inflation has been above target and represents the highest [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the record low of 1% for the 21st consecutive month. The move came despite inflation exceeding the Bank’s target. Inflation in the 17-member euro zone rose to 2.4% in January – above the ECB’s target of just below 2%. The bank [...]
The European Union’s statistics office Eurostat has today revealed inflation in the euro zone rose to 2.3% in January – albeit lower than an earlier projection of 2.4% and compares with 2.2% in December. However, the rate remains above the European Central Bank’s target of just below 2%. The ECB has previously suggested inflation in [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the record low of 1% for the 20th consecutive month. The move came despite inflation exceeding the Bank’s target. Earlier this week, the European Union’s statistics office Eurostat revealed inflation in the euro zone rose more than expected in January. Inflation [...]
The European Union’s statistics office Eurostat has today revealed inflation in the euro zone rose more than expected in January. Inflation rose 2.4% on an annual basis in January, up from 2.2% the previous month and continues to exceed the European Central Bank’s (ECB) target of just below 2%. According to economists, the increase was [...]
As widely expected, the European Central Bank (ECB) today elected to keep interest rates on hold at the record low of 1% for the 20th consecutive month. Rates are expected to be kept on hold for the medium-term at least to boost the area’s economic recovery. However, there are still fears that the debt crisis [...]
The European Union’s statistics office Eurostat has today revealed inflation in the euro zone rose more than expected in December. Inflation rose 2.2% on an annual basis in December, up from 1.9% the previous month and represented the first time since October 2008 that it had exceeded the European Central Bank’s (ECB) target of just [...]
As expected, the European Central Bank (ECB) today elected to keep interest rates on hold at the record low of 1% for the 19th consecutive month. There were suggestions that the bank might have taken drastic action in order to address the debt crisis, currently engulfing the euro zone. However, the ECB said it will [...]
The European Central Bank (ECB) is in the midst of its monetary policy meeting and while interest rates are expected to remain at the record low of 1%, measures may be announced to address the debt crisis. There is speculation that the ECB may extend its Government bond purchase (liquidity) programme. The latest debt crisis [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% – where they have been since May 2009. Interest rates are expected to remain on hold until at least 2011, as a result of uneven growth and low inflation. The news comes after the Bank of [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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