The Bank of Korea (BoK) has today opted to leave interest rates on hold at 2.25% – for the third consecutive month. The decision surprised many economists who had expected rates to be lifted to 2.5%. The central bank left interest rates at the record low 2% for 17 months following the global economic downturn [...]
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 [...]
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – where they have been since March 2009. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to [...]
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 20th consecutive month. Many economists expect no movement on interest rates until early 2011. However, in terms of quantitative easing programme (QE), Bank of England policymakers, Adam Posen [...]
The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5%. It is the fifth consecutive month in which rates have been at this level and economists had expected rates to rise to 4.75% this month. However, it is still expected that the central bank will only leave rates [...]
The Federal Reserve yesterday elected to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected. Interest rates in the world’s largest economy have been at the low level since December 2008 and the bank has previously said that as a result of subdued inflation and high unemployment, [...]
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – where they have been since March 2009. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to [...]
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 19th consecutive month. Many economists expect no movement on interest rates until early 2011. Meanwhile, all nine members of the MPC are expected to keep the quantitative easing [...]
Minutes of the Bank of England’s August meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted 8-1 earlier this month to keep interest rates at the historic low of 0.5% – where they have been since March 2009. It was Martin Weale’s first rate-setting meeting. Mr Weale replaced Kate [...]
The Federal Reserve has elected to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected. Interest rates in the world’s largest economy have been at the low level since December 2008 and the bank has previously said that as a result of subdued inflation and high unemployment, [...]
After a two-day policy board meeting, the Bank of Japan (BoJ) has elected to keep interest rates at 0.1%, as widely expected. Interest rates in the world’s second largest economy have been at the low level since December 2008 in a bid to fight off deflation. Deflation (where prices fall rather than increase) can be [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the 15th consecutive month, as widely expected. 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 [...]
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 18th consecutive month, as widely expected. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced [...]
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 18th consecutive month. Furthermore, all members of the MPC are expected to keep the quantitative easing programme (QE) on hold. QE, also known as printing money, is a [...]
The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5% after a series of aggressive rate hikes since October. It is the third consecutive month in which rates have been at this level but economists say the central bank will only leave rates on hold for the short-term. [...]
Speaking in front of the House of Commons’ Treasury select committee, the Governor of the Bank of England, Mervyn King, has reiterated that interest rates will stay at the historic low of 0.5% for some time to come. Mr King said: “It’s right to keep our foot firmly on the monetary accelerator”, adding he is [...]
After a two-day policy board meeting, the Bank of Japan (BoJ) has elected to keep interest rates at 0.1%, as widely expected. Interest rates in the world’s second largest economy have been at the low level since December 2008 in a bid to fight off deflation. Deflation (where prices fall rather than increase) can be [...]
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the 14th consecutive month, as widely expected. 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 [...]
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 17th consecutive month, as widely expected. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced [...]
The Bank of England’s Monetary Policy Committee (MPC) is tomorrow expected to keep UK interest rates on hold at the historically low level of 0.5% for the 17th consecutive month. Furthermore, all members of the MPC are expected to keep the quantitative easing programme (QE) on hold. QE, also known as printing money, is a [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
