EC fines banks 1bn over interest rate rigs
The European Commission has fined a group of eight financial institutions a total of 1.7bn (£1.4bn), for forming illegal cartels to rig interest rates.
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Interest Rates
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Unemployment could fall sub-7 per cent next year
The Bank of England has used its latest Inflation Report to soften its unemployment projections but has played down the move.
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Pound drops as bo e say no increase
The pound fell a cent and a half against the dollar following the Bank of England’s announcement markets were wrong to assume interest rates would start rising soon.
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Commentators at loggerheads over interest rate cut
The ECB’s decision to cut interest rates signals a welcome move away from austerity for some, but is too little too late for others.
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treasury demands more from tucker
The Bank of England’s deputy governor, Paul Tucker, has tabled the use of negative interest rates as a potential monetary policy, prompting the Treasury Select Committee to ask for a further explanation.
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Static base rate threatens prolonged pain
So, there’s no new stimulus measures this month and UK interest rates have been kept at 0.5% no surprise there but could the base rate really be maintained at a record low level for the next 10 years?
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eurozone crisis to lead to further rate cuts
The ECB is likely to cut interest rates back to 1% in coming months as the Greek crisis lacks any near-term resolution, according to commentators.
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ECB signals further rate rise as BoE holds firm again
The BoE and the European Central Bank have both kept their headline rates of interest on hold.
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Ignis’ Thomson: autumn 2013 is most likely time for rate hike
Ignis AM chief economist Stuart Thomson says autumn 2013 is the most likely time for a Uk rate rise.
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UK base rate will hit 2.75% by end of next year, says BCC
The BCC says UK interest rates will rise “at a faster rate than previously envisaged”.
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MPC member blames markets for European debt woes
An external MPC member has laid partial blame for Europes current debt woes on the markets.