Savings: Bank of England considers negative interest rates. How would your savings accounts be affected?

Bank of England considers negative interest rates. How would your savings accounts be affectedThe prospect of negative interest rates was raised yesterday by Paul Tucker, a Deputy Governor of the Bank of England. Whilst most experts believe it is unlikely to happen, the thought will understandably send shivers down the spine of those of us with savings accounts. The problems facing savers have been well documented; Bank base rate has been stuck at 0.5% since ...

Housing & mortgage round up: Interest rates, planning rules, house prices & mortgage fees

Housing & mortgage round upA huge week for housing news saw the government unveil its latest initiative to get the housing market moving, a new report shows that mortgage fees are soaring, the Bank of England announced their latest interest rate decision and of course no week would be complete without a house price survey. Read on for all the details. Interest rates unchanged The latest Bank of England decision on interest rates went almost unreported this week, overshadowed by the Paralympics and the ...

UK interest rates remain at 0.5%

For the 27th month in a row the Bank of England’s Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.5%. In addition no further quantitative easing measures were announced. Despite fears over inflation, which at 4.5% remains well above the Bank’s target of 2%, the decision to keep rates on hold will come as little surprise, although a rise is expected at some point. James Knightley economist at ING said believes that the UK’s poor economic data has led some to "push back expectations for the timing of the first UK rate hike to March next year". "However, with ...

Global bank operators and regulators agree to new capital reserve guidelines

Major bank operators and senior regulators have agreed a new deal which will see banks hold more capital in reserve in a bid to prevent another economical downturn. Experts say the rule, known as Basel III, should help banks to absorb losses in future crises without needing to turn to the taxpayer for help. Low levels of capital relative to assets were believed to be one of the major factors behind the last global recession.