Interest rates RSS feed for the Interest rates tag
found 22 stories.
Business
Graeme Brown B'ham Post 16 Feb 11
Business leaders in the West Midlands fear a rise in interest rates is on the way after inflation increased to four per cent.
Bank of England policymakers have insisted the stubbornly-high cost of living is due to temporary price shocks, such as soaring global commodity prices and the VAT rise last month, and that inflation will drop back by 2012.
But as inflation continues to soar, hitting four per cent in January, business leaders say the dogged approach is sure to come to an end…
Business
James Graham BusinessDesk 13 Jan 11
The Bank of England opted to hold the base interest rate at 0.5% again today.
Concerns over rising inflation, spurred by the New Year VAT hike, failed to prompt the Bank’s Monetary Policy Committee (MPC) to increase rates for the first time in nearly two years.
In November, inflation hit 3.3% as measured by the consumer price index (CPI) – higher than the Bank’s 2% target…
Business
BusinessDesk 4 Nov 10
The Bank of England rejected calls for a new bout of quantitative easing today and kept rates at an historic low of 0.5%.
Despite moves by the US Federal Reserve to pump a further £372bn into the economy over the next eight months the Bank has decided to hold steady…
Business
Telegraph 26 Oct 10
Interest rates will start to rise sooner than expected after official figures showed the economy growing at its fastest rate for a decade, economists have said.
Growth over the past six months reached 2 per cent, the fastest pace of expansion over two consecutive quarters since 2000, according to the Office for National Statistics…
Business
Duncan Tift BusinessDesk 20 Oct 10
Bank of England Governor Mervyn King has advised Black Country business leaders to ensure they “sell more and buy less” from abroad in order to rebalance the economy after recession.
Speaking to an invited audience at the Black Country Chamber of Commerce in Dudley – on the eve of the Government’s Comprehensive Spending Review, Mr King said: “To achieve a rebalancing we need to sell more to, and buy less from, economies overseas…
Business
Duncan Tift BusinessDesk 19 Oct 10
Bank of England Governor Mervyn King is set to address business leaders in the Black Country tonight with firms in the area eager for an insight on future fiscal policy.
Mr King is guest of honour at an event organised by the Black Country Chamber of Commerce. Many businesses will be hoping for clues on whether the Bank intends reviving its quantitative easing programme…
Business
DuncanTift BusinessDesk 8 Oct 10
Business leaders across the West Midlands have given a mixed reaction to the latest decision by the Bank of England’s Monetary Policy Committee to retain interest rates at 0.5%.
The rate has now been held at its historic low since March last year. Many thought this might change but the committee opted for continuity ahead of the likely cutbacks as part of the Comprehensive Spending Review, the details of which will be released later this month…
Business
Real Business 1 Oct 10
Sterling fell to a new record low this morning due to a slump in British manufacturing. The pound hit a four-month low against the euro as export demand fell for the first time in more than a year.
Mark Bolsom, head of the UK trading desk at Travelex Global Business Payments comments: “This adds to the big question mark hanging over the timing and severity of the Coalition’s plans to cut spending and hike taxes…
News
BBC News 23 Sep 10
A new not-for-profit lending scheme is being unveiled aimed at giving manageable loans to financially excluded people.
A pilot scheme has been set up in the West Midlands called My Home Finance, in the hope of diverting people away from borrowing from loan sharks.
However, the interest being charged is higher than the maximum by law that credit unions can charge.
It will charge 29.9% APR in the pilot scheme, rising to 49.9% APR in April.
Some 38 members of staff have been taken on and four branches – in Hereford, Worcester, Walsall and Northfield in Birmingham – are up and running…
Business
BusinessDesk 9 Sep 10
The Bank of England’s Monetary Policy Committee today resisted pressure to raise interest rates as the cost of borrowing remained at its record low of 0.5%.
The committee also voted to leave quantitative easing at £200bn…