Stay informed with free updates Simply log in to the monetary policy myFT Digest – delivered straight to your inbox. The writer is president of the Peterson Institute for International Economics With the European Central Bank and the Bank of Canada cutting rates this week, attention has now turned to the US Federal Reserve and … Read more
The European Central Bank has eased pressure on borrowers across the eurozone after cutting its key interest rate for the first time in almost five years. Citing a continued decline in inflation, the ECB said it would cut its deposit rate from a record high of 4% to 3.75%, putting it ahead of the US … Read more
Image source, Getty Images Image caption, ECB President Christine Lagarde Item information Author, Lucy Hoeker Role, Business reporter, BBC News June 6, 2024 The EU became the second major global economy to cut lending rates this week as it said it had made progress in tackling inflation. The European Central Bank (ECB) announced a cut … Read more
Sun Jun 2, 2024 7:29 PM EDT CNBC Pro: Profits at these five global banks will remain high despite an ECB rate cut, Berenberg says Despite a rate cut expected this week, profits at a handful of major European banks will remain robust, according to Berenberg. One of the lender’s shares could rise more than … Read more
The five biggest banks pay an average of just 1.69% on £10,000 of easy access loans This remains no less than 1.43% behind the rest of the market average Despite new rules requiring them to offer savers ‘fair value’ Britain’s five biggest banks are still failing to offer competitive savings rates despite the Financial Conduct … Read more
His comments come as European Central Bank officials are expected to confirm a rate cut at their meeting today. It will be their first in over five years. READ MORE: Unite strengthens Scottish rebellion against Labor over oil jobs According to the SNP analysis, the decision to keep the base rate at 5.25% in May … Read more
A major bank is making a major change to its overdrafts, impacting millions of customers. Lloyds Banking Group, which runs Lloyds Bank, Halifax and the Bank of Scotland, is changing the way it charges overdrafts. Lloyds increases interest rates on its agreed overdraftsCredit: Reuters An overdraft allows you to spend money or withdraw cash if … Read more
Are you affected by the delay? Email arthur.parashar@mailonline.co.uk Furious parents say they cannot put food on the table after an HMRC error prevented some child benefit payments from arriving as planned on Monday. HMRC has apologized after around 30 per cent of child benefit payments scheduled for June 3 failed to arrive in claimants’ accounts … Read more
Image source, Victoria Arthur Image caption, Victoria Arthur and two of her children Item information Author, Daniel Thomas Role, Business reporter 1 hour ago When Victoria Arthur’s child support payments weren’t paid Monday, her first concern was that she wouldn’t be able to afford diapers and milk for her four-month-old daughter. Like many, the mother-of-three … Read more
Image caption, Standard Chartered Bank has its head office in the City of London Item information Author, Andy Verity Role, Economics correspondent 3 hours ago A British bank that escaped prosecution for money laundering carried out billions of dollars in transactions for financiers of terrorist groups, US court papers allege. Standard Chartered, one of Britain’s … Read more