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Eurozone growth forecast uplifted

The European Central Bank (ECB) is feeling more optimistic about growth in the eurozone, having raised its forecast for GDP growth to between 1.4% and 1.8% for 2010, and between 0.5% and 2.3% in 2011. Explaining the revision, ECB president, Jean-Claude...

Published 09-03-2010 9:30 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, European Central Bank, ECB, inflation, interest rates, exports, GDP, growth, recovery, eurozone

Sharp interest rate rises on the way, predicts think tank

Influential think tank, the Policy Exchange, has warned interest rates may be hiked to 8% by 2012, in order to combat stubbornly high inflation. Interest rates remain at the 300-year record low of 0.5% – where they have been since March 2009 –...

Published 08-23-2010 8:08 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, Bank of England, rise, think tank, MPC, Monetary Policy Committee, Policy Exchange

Survey reveals elderly Brits raid savings

Investment firm Schroders has revealed a third of Britons aged over 65 are raiding their savings in order to cover everyday living costs. According to the report, savers have taken out a total of £60 billion, with an average of £4,600 each. The main reason...

Published 08-22-2010 6:05 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, interest rates, survey, savings, Banking News, Investment News, cover, living costs, Schroders, raid, elderley

Iceland’s central bank cuts interest rates to 7%

Iceland’s Central Bank (Sedlabanki Islands) has slashed its key interest from 8% to 7%. While a cut was expected, it was not as much as economists had forecast after inflation eased and the country’s currency, the krona, strengthened. The central...

Published 08-18-2010 2:24 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, central bank, banks, International Monetary Fund, loan, Iceland, Krona, financial crisis, turmoil, nationalised, Sedlabanki Islands

Bank voted 8-1 to hold rates in August

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...

Published 08-18-2010 9:44 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, Bank of England, MPC, on hold, minutes, Monetary Policy Committee, Andrew Sentance, not unanimous, 8-1, August meeting

UK inflation dips to 3.1% in July

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) slipped to an annual rate of 3.1% in July – down from to 3.2% in June. The latest figure, which was widely expected by analysts, represents the eighth consecutive...

Published 08-17-2010 9:52 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, Bank of England, fall, Office for National Statistics, RPI, CPI, Mervyn King, July, letter, Chancellor George Osborne

UK inflation expected to ease slightly in July

The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate this morning, with analysts expecting the annual rate to be around 3.1% – representing the eighth consecutive month that it has been above the Bank of England...

Published 08-17-2010 8:44 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, UK, Bank of England, fall, RPI, CPI, VAT, target, July, interst rates, slightly

CML reports further fall in repossessions

The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the third consecutive quarter in which they have fallen. According to the Council, lenders seized 9,400 properties in the April to June period – 400...

Published 08-12-2010 10:42 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, interest rates, repossessions, Mortgage News, fall, Government, CML, Council of Mortgage Lenders, support, arrears, quarter two

US Fed introduces “QE Lite” to boost economy

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...

Published 08-11-2010 8:16 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, quantitative easing, interest rates, Federal Reserve, US, record low, boost, recovery, measures, on hold, policy meeting, QE lite

US Fed expected to keep interest rates at record low today

As uncertainty surrounds the world’s largest economy, investors are awaiting the outcome of the Federal Reserve’s policy meeting today. The US Fed is set to announce its decision on interest rates and other stimulus measures. Interest rates in the...

Published 08-10-2010 2:28 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, quantitative easing, interest rates, Federal Reserve, US, Ben Bernanke, unemployment, housing market, fears, recovery, investors, stimulus measures, monetary policy, await, outcome, double-dip” recession

Smaller building societies offer better rates

Smaller building societies are often able to offer better interest rates on current accounts than big banks, a financial expert has claimed. Phil Perry, director of Ark Financial Planning, said smaller, regional lenders such as mutual societies can offer...

Published 08-05-2010 3:40 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, interest rates, savings, Banking News, building societies, current accounts, Ark Financial Planning

UK interest rates remain on hold

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...

Published 08-05-2010 12:08 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, quantitative easing, inflation, interest rates, Bank of England, MPC, Ernst & Young Item Club, on hold, Mervyn King, Monetary Policy Committee, expected, Martin Weale

Australia continues to put brakes on rate hikes

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...

Euro zone unemployment rate flat, inflation moves closer to target

The European Union’s statistics agency has today announced unemployment in the 16-member euro zone remained flat at 10% in June. According to Eurostat, 15.77 million people were unemployed in the euro zone during June. Spain has the highest unemployment...

Published 07-30-2010 12:20 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, euro zone, Economy News, European Central Bank, inflation, interest rates, unemployment, confidence, target, Eurostat

Banks hide rate cuts from savers

Banks are keeping their customers in the dark about interest rate changes on their accounts, new research has found. The study by Which? Money found most banks rely on newspaper adverts or customers popping into their local branch to keep savers informed...

Published 07-29-2010 2:21 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, interest rates, UK, Banking News, research, Which?, British Bankers' Association

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