Santander has announced a wave of interest rate cuts on its mortgage products, which is a huge win for homeowners and homebuyers. The major lender is reducing rates to selected fixed rates across its purchase, remortgage, buy-to-let and new build ranges. In addition, Santander has announced the launch of a range of new two-year tracker … Read more
The amount of mortgage arrears has risen by 44.5 percent in the first three months of this year as homeowners struggle with higher interest rates, Bank of England data shows. Outstanding payment arrears rose to £21.3 billion, up 4.2 per cent on the last three months of 2023 and up 44.5 per cent on the … Read more
Bank customers are reminded to ‘watch’ the interest rates on their savings accounts. Experts from Moneyfactscompare have put together a list of the best savings accounts for this week. The Bank of England’s base rate has held rates at a 16-year high since it was raised to 5.25 percent last August GB NEWS Rachel Springall, … Read more
The rising political heat is complicating interest rate decisions in the US and Britain, where central banks are wondering whether to cut borrowing costs as voters prepare to go to the polls. The Bank of England and the Federal Reserve want to avoid any perception that they are cutting rates to help sitting governments, former … Read more
The result is that even if nominal interest rates fall below the official 2% target in the coming months, as seems likely, they could pick up again later this year. This is already happening in the eurozone, where headline inflation, core inflation and services inflation all rose in May. Although the ECB has cut interest … Read more
Image source, Getty Images Item information Author, Natalie Sherman Role, BBC news 1 hour ago After sharply raising borrowing costs in recent years in an effort to quell rising prices, countries around the world are shifting gears. The European Central Bank (ECB) announced its first interest rate cut in five years on Thursday, lowering key … 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
The ECB cut rates by 25 basis points, signaling a moderation in monetary policy restrictions. However, Frankfurt has also made an upward revision to its inflation projections, with headline inflation now expected to average 2.5% in 2024 and 2.2% in 2025. ADVERTISEMENT The European Central Bank (ECB) cut interest rates by 25 basis points at … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. The European Central Bank has cut interest rates for the first time in almost five years, faster than its US and British counterparts, but warns that price pressures remain high. The ECB cut the deposit … 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