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
[Key takeaways] ● At its May meeting, the Federal Reserve kept its target range for the federal funds rate at 5.25%-5.50%, marking the sixth consecutive time it remained unchanged. ● The probability of a Fed rate cut in September has increased significantly from 50% to 70% in the first week of June due to indicators … Read more
The latest set of employment figures before election day show wages continuing to grow at more than double the rate of inflation, a double-edged sword for Rishi Sunak’s government. By means of James Sillars, business reporter @SkyNewsBiz Tuesday, June 11, 2024 7:27 AM, UK The prospect of a pre-election rate cut by the Bank of … 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
Above: Emmanuel MACRON, President of France. Copyright: European Union. Pound to euro conversions soared in value on Monday, delivering the best exchange rates for euro buyers in 34 months. The euro is under widespread pressure, with analysts blaming the calling of early elections in France and the apparent success of EU-skeptical parties in the European … 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 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
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