Base rate held but QE receives further boost
The Bank of England base rate of
interest has been frozen at 0.5% for the eight month in succession, but the
programme of quantitative easing (QE) has been extended by an additional £25
billion, the Monetary Policy Committee (MPC) has announced...
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Loan to values rise Figures
from Moneyfacts have revealed that lenders are beginning to increase their
maximum loan-to-values (LTVs)... |
UBS fined £8 million The
Financial Services Authority (FSA) has fined UBS £8 million for systems and
controls failures that enabled four employees to carry out unauthorised
transactions involving clients' money on at least 39 accounts... |
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Ethical investments find favour Ethical
investments appear to be finding favour with investors once more, with
sales of funds in the third quarter (Q3) more than doubling the total seen
in the same period last year... |
Concern over RDR Scottish
Widows has warned that delivering the retail distribution review could
undermine the objective of the RDR of increasing consumer trust as less
people may receive advice... |
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Experts
said the Government would need to consider a "plan B" if the
shortfall continues to rise as companies go bust in the recession. .. |
Taxpayers
will today learn the full details of the crashed corporate and commercial
property loans they must insure as part of the £240bn of toxic loans Royal
Bank of Scotland is placing under public protection. .. |
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Savills,
the upmarket estate agent, has given warning that the British housing
market faces a "w" dip. House prices are expected to rise about
4pc this year despite soaring unemployment and a 14.7pc fall in2008... |
Banks
outside the US would have to report expected losses on their lending much
earlier, under proposals published yesterday by the international
accounting rulemaker. .. |
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The
Swiss bank UBS has been slapped with an £8m fine, the third-largest ever
levied by the City regulator, after it was discovered that four of the
bank's employees were able to use customer money to trade in currencies
and metals markets. .. |
A
stark warning of the continuing weakness of the economy came yesterday
as the Bank of England announced a further dramatic expansion in its
programme of quantitative easing, injecting money directly into the
economy - to reach a total £200bn in the next few months. .. |
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Record
low interest rates yesterday sparked a fresh round in the mortgage
price war, bringing further cheer to the housing market. .. |
The
UK economy remained stuck in recession last month, according to a
respected economics think-tank, further denting hopes for a strong
bounce-back after the downturn. .. |
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