Savers Becoming Wiser and More Aggressive in Choosing Savings Accounts

For two years savers have been finding little return on their deposit with a base rate sitting at 0.5 per cent.  With inflation at 4 per cent and very few accounts paying above inflation level the return is lower than the cost of living increases.  Investment in savings has not been what it used to [...]

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Reputation of Banking Industry Being Blamed for Lack of Enrollment in Banking Course

The scapegoat for most things negative in relation to the economic crisis has been the banker. In the past this was a position of envy, the dream job of those looking to find a stable job with all the sexiness of high-profile meetings, large bonuses and perks and high salaries. However, now the banker is [...]

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Recurrence of Credit Crisis Possible for UK Banks

It has been suggested by one former Bank of England economist that preventing a second credit crisis is going to take some extreme measures.  Danny Gabay has a strong opinion about how the credit situation can be improved.  He believes the UK banks should sell their mortgage loans to the Bank of England at a [...]

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Rate Increase by MPC May Have Moved Closer to Reality than Farther Back

Recent increases in oil prices, ever climbing food prices, and the demand on commodities such as medal, plastic, and rubber is sure to push inflation close to 5 per cent in the near months.  Currently it stands at 3.7 per cent which is closer to 5 per cent than it is to the Bank of [...]

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Latest MPC Minutes Reveal Rate Increase was Closer than in Month’s Past

The standard interest base rate was closer to a change in February than the month before according to the latest release of the Bank of England’s Monetary Policy Committee’s (MPC) most recent minutes.  The latest release of the MPC minutes showed there was a vote of 6-3 for an increase in February which is one [...]

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The Outlines of Bank Reform

In a few days, the Independent Banking Commission will submit its interim report. Banking industry analysts believe the 11 April report will be aggressive in its recommendations. The commission is the UK government’s response to the “too big to fail” mind-set that prevailed at the height of the financial crisis. This view with respect to [...]

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Lambert Cautions Banks of UK to Control Bonuses and Lending in Ever Important Speech

Richard Lambert laid out some important words to bankers as well as politicians Monday, as he cautioned financial institutions of the UK to moderate bonuses within the bank and control the lending which exits the bank.  The director-general of the CBI (Confederation of British Industry) spoke candidly and in great detail on the working relationship [...]

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King Warns of Many Trial Years Before Banking Reform Success

Mervyn King believes it will be some time before the reform set up for banks of the UK will prove effective.  He referred to the time span as decades, as he spoke to an audience in New York.  He believes that the banks should set aside billions of pounds, and that the new Basel III [...]

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ISA Providers Fail to Give Savers Correct Advice Due to Improper Training

Many people with individual savings accounts (ISA) made decisions on which account would best serve their needs based on the advice of their bank.  In choosing to stay or switch if advice was sought it was most likely advice from the place where the account was held or that of a competitive account provider.  It [...]

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MPC Votes to Keep Rate Steady, But Changes May Come in 2011

The minutes of the August meeting conducted by the Bank of England’s Monetary Policy Committee (MPC) revealed that once again there was a vote to raise the standard base rate.  The MPC held steady though as the vote did not go through.  Basically the minutes showed that the MPC made no changes as they try [...]

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