interest rates

Cost of living starts to slow

Rebecca Atkinson — Tue, 18 Nov 2008 09:47:28 +0000

Inflation appears to have peaked with the cost of living standing at 4.5% during October, down from 5.2% in September.

Savings banks protect own interests

Rebecca Atkinson — Mon, 17 Nov 2008 11:53:52 +0000

Banks and building societies have been accused of acting to protect their own interests by drastically cutting rates on saving accounts by up to 2.55% following the Bank of England’s rate cut.

Lenders claw back profit on mortgages

Rebecca Atkinson — Fri, 14 Nov 2008 11:14:01 +0000

Rates on tracker mortgages have jumped despite a 2% fall in the Bank of England base rate since October.

Is deflation a blessing or curse?

Rebecca Atkinson — Thu, 13 Nov 2008 12:59:25 +0000

It is likely that 2008 will go down as one of the most financially turbulent in history. For British households, there have been plummeting house prices, failing banks and a pending recession to contend with. In addition, the increasing cost of living - specifically the rising cost of petrol, energy bill hikes and higher food prices - has put pressure on many people's budgets.

Recession "very likely" says Bank of England

Rebecca Atkinson — Wed, 12 Nov 2008 11:02:31 +0000

It is now “very likely” that the UK will enter a recession before 2008 is over, the Bank of England has warned in its latest inflation report.

Property sales hit 30-year low

Rebecca Atkinson — Tue, 11 Nov 2008 10:40:40 +0000

Property sales have hit a 30-year low as mortgage lending dries up by more than 50% in just 12 months.

The Royal Institution of Chartered Surveyors (RICS) reports that the average number of sales per surveyor is currently just 10.9, the lowest level since records started in 1978. London remains at the bottom of the activity league, with just 6.4 sales per surveyor on average.

Banks shamed into cutting rates

Rebecca Atkinson — Fri, 07 Nov 2008 17:39:51 +0000

Critical media attention and government intervention has led to several big mortgage lenders cutting their standard variable rates in-line with the 1.5% Bank of England base rate cut.

Who is to blame for the financial crisis?

bill — Fri, 07 Nov 2008 10:50:49 +0000

The last 12 months have seen house prices plummet, several banks fail, savers left at risk of losing their money - the list goes on and on.

But who is to blame for the mess we currently find ourselves in? Moneywise TV interviews Dr Vincent Cable, deputy leader of the Liberal Democrat Party, to find out his view on the economic crisis and the reasons behind it.

What does the interest rate cut mean for you?

Rebecca Atkinson — Thu, 06 Nov 2008 13:07:49 +0000

The Bank of England has taken drastic action to help households and businesses by cutting interest rates by a monstrous 1.5%. Although some commentators were holding out for a 100 basis point reduction, the move to bring interest rates down from 4.5% to 3% has provoked plenty of reaction.

Reaction

Bank of England cuts rates by 1.5%

Rebecca Atkinson — Wed, 05 Nov 2008 16:53:24 +0000

The Bank of England’s Monetary Policy Committee (MPC) has shocked the City with a surprise 1.5% cut in interest rates, taking it from 4.50% to 3%.

While the majority of analysts predicted a cut today, perhaps by as much as a full 1%, the decision to reduce rates by 1.5% was more than expected. Interest rates are now the lowest they have been since 1955.