A new survey from RateSetter, a company that operates lend-to-save loans, allowing people to directly loan their money out to people who need it and thus improve the interest rate for both savers and lenders, has revealed that as few as 30% of people may be beating inflation with their current savings account. In their […]
Tag: The UK Economy
CBI Increases GDP Prediction for 2012
There have been so many different predictions about what 2012 will look like overall from a GDP perspective that is has been hard to keep track of them. Depending on which institutions you listen to and whether you keep up with all of their later revised predictions, you might be expecting Britain’s economy to have […]
Economists Predict Winter Cut to Interest Rates
There have been yet more predictions of a cut in the interest rate set by the Bank of England, bringing it down from its already record-low 0.5% figure. The Bank has kept interest rates there for two and a half years now, and some economists are predicting a further fall. Despite expectations of a drop […]
Bank of England Policy Maker Warns QE has “lost its bite”
The policy of quantitative easing (QE), wherein the Bank of England has been printing money and giving it to the banks in order to stimulate lending, has begun to receive criticism from within the Bank itself. There were already analysts in the city and commentators throughout society that had claimed it was not doing what […]
British Workers are Spending More Time Doing Less
Figures from the Office of National Statistics have demonstrated that British workers are currently producing less GDP per hour of work than their contemporaries in Canada, Germany, Italy, France and the US. Of the G7 nations, only Japan’s workers were producing less GDP per hour. Plenty of people and newspapers have jumped on these figures […]
Spiraling Food Prices and Cost of Fuel Could End Falling Inflation
The pressure easing on millions of British households from falling inflation could be short lived as warnings emerged that fuel prices could head for £1.50 per litre combined with poor harvests affecting food costs. The price of crude oil has been forced up in price due to rising tensions in the Middle East along with […]
Bank Rating Downgrades Mean Interest Rates on Loans & Mortgages Set to Climb Again
British households are likely to be set for more financial pain, with interest rates likely to rise on their loans and mortgages money experts have warned today. Some of Britain’s top banks last night suffered a downgrade in their credit rating by Moody’s the credit agency amid rapidly increasing fears of a financial meltdown in […]
UK Base Rate of Interest predicted to Fall to 0.25% by End of Year
It is predicted by UK financial markets that the base rate of interest could be cut by the Bank of England to 0.25% by the end of the year. The prediction is the first of its kind that hints at the value of less than 0.5%, which is where the base rate has been set […]
Business Finance Conditions Still Getting Worse
Business credit conditions in the UK are still getting worse the Bank of England has warned. Banks are being much more proactive in trying to call in their outstanding debts from UK companies. New loans for companies are much harder to get, and those companies that are managing to get new loans are paying much […]
On-going Credit Squeeze Becoming Critical Because Banks Still Not Lending
The Federation of Small Businesses (FSB) has issued a warning that ‘The on-going credit squeeze is becoming critical’ after it has been revealed today that four out of ten small businesses are still being turned down when they apply for business loans. The FSB who interviewed 2,850 small businesses found that 41% of them who […]