The five pound note is to re-establish itself in the wallets and purses of the nation on the news that all banks and building societies will be dispensing fivers from ATMs in the future. Currently, scarcity means that £5s change hands many more times than other notes before being returned for sorting and the increased [...]
New figures from the Bank of England show total net lending secured on UK dwellings increasing by £0.1 billion in July, although the rise is well below June’s increase of £0.5 billion and the previous six-month average of £0.8 billion. Approvals for house purchase stood at 48,722 with the total broadly in line with a [...]
The recovery of the UK housing market could be under threat with reports that the Bank of England may restrict mortgage lending. The Bank’s deputy governor, Charlie Bean, has apparently indicated that new measures aimed at stabilising the economy could set deposit levels for UK mortgage borrowers at between 10% and 25%. The deputy governor [...]
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 – in order to boost the economy and bring it out of recession. [...]
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 [...]
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 [...]