Items tagged with: economy

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Banks sign up to Funding for Lending scheme

27 September 2021
Five of Britain's six biggest banks and financial institutions have signed up to the new Funding for Lending scheme, in an attempt to boost the economy by making cheaper loans available to businesses and personal banking customers. ... read more »

Funding for Lending Scheme 'showing signs of working' for banks

11 September 2021
The Funding for Lending Scheme - a government scheme designed to encourage banks to lend more to consumers and businesses - seems to be benefiting banks. ... read more »

How could high street banking be improved?

28 August 2021
A report by Boston Consulting Group has put forward some recommendations for high street banks. As The Telegraph reports, these ideas could see the traditional bank branch and manager becoming a thing of the past. ... read more »

UK families 'better off by 1 a week'

22 August 2021
UK families saw their weekly disposable income increase by 1 in July 2021 compared with the same time last year, marking the biggest annual increase since 2010, according to the latest Asda Income Tracker. ... read more »

Loan rates falling as base rate cut approaches

14 August 2021
A number of personal loan providers have slashed interest rates in recent weeks - perhaps because the Bank of England is expected to cut the base rate in the not-too-distant future. ... read more »

2021 growth forecast 'close to zero', Bank says

9 August 2021
As the double-dip recession continues to put pressure on the economy, the Bank of England has slashed its growth forecast for 2021 to almost zero, despite May's prediction of 0.8% growth, the BBC reports. ... read more »

Overdraft rates 'higher than before the credit crunch'

8 August 2021
The average interest rate on an authorised overdraft is higher than before the credit crunch, according to research by Moneyfacts. ... read more »

Base rate cut by end of 2021 could see loan rates fall further

7 August 2021
The Bank of England opted against cutting the base rate to an unprecedented 0.25% this month - but many experts believe it will still happen in the near future. ... read more »

Mortgage approvals 'hit lowest level in at least 15 years'

25 July 2021
The number of mortgage approvals fell to their lowest number in at least 15 years in June, according to figures from the British Bankers' Association (BBA), The Telegraph reports.... read more »

UK economy: a return to growth this year?

16 July 2021
The UK economy is expected to return to growth in the second half of 2021, following a poor first half of the year, the BBC reports.... read more »

UK jobless 'could hit 3 million by end of 2021'

9 July 2021
A report, released today by KPMG and the Recruitment and Employment Confederation (REC), has found that last month, the number of people in permanent employment fell at the steepest rate for three years, The Telegraph reports. ... read more »

Mortgage approvals fall following two-year high

4 July 2021
Mortgage approvals have seen a further fall following a two-year high recorded earlier in 2021, causing speculation that house prices could drop over the next few months, The Independent reports. ... read more »

National Loan Guarantee Scheme to be extended to 99.9% of British businesses

27 June 2021
On Tuesday, George Osborne announced that Britain will expand its National Loan Guarantee Scheme (NLGS) - originally aimed at smaller businesses - to include large businesses too. ... read more »

British banks' credit ratings slashed

22 June 2021
Moody's, the global credit ratings agency, yesterday downgraded the credit ratings of four major British banks as part of a worldwide downgrading. ... read more »

Average rent is now '712 per month'

22 June 2021
Letting agents have said that the average rent being paid by private tenants has risen to 712 a month. It was the second monthly increase in a row, according to the BBC - meaning that average rents are back to where they were in January. ... read more »

G20 summit in Mexico will address Eurozone debt crisis

18 June 2021
Leaders of the 20 most powerful and economically successful nations on the planet will today meet at the G20 summit in a Mexican resort, Los Cabos, and the Eurozone debt crisis is high on the agenda. ... read more »

Consumers continue to feel spending power squeeze

18 June 2021
According to research by Lloyds TSB, discretionary spending power dropped by 0.3% in May, as real incomes continued to feel the pinch in the current climate. This means the average person has almost 34 a month less to spend on non-essentials than a year ago. ... read more »

£140 billion stimulus package for the economy announced

15 June 2021
During his annual speech at Mansion House yesterday, George Osborne (Chancellor of the Exchequer) along with Sir Mervyn King (Governor of the Bank of England) announced plans to kick-start the British economy with a 140 billion injection for banks and lenders. It's hoped this will make cheaper credit available to businesses and individuals.... read more »

Base rate cut: good news for mortgages?

1 June 2021
Last week, the International Monetary Fund (IMF) called for a further base rate cut to help the UK economy pull itself out of recession. The idea is that if borrowing becomes cheaper, consumers will be able to spend more and the economy will eventually return to growth. ... read more »

Double dip recession explained

23 May 2021
We have entered the first double-dip recession since the 1970s. What does it actually mean?... read more »

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