View more on these topics

BoE rejects interest rate hike for the South

Bank of England governor Eddie George has rejected a suggestion to raise interest rates to slow down the booming economy in the south of England.


George says any moves to protect particular regions or sectors of the economy, suggested by digruntled businessmen, could jeopardise the economy.


The Monetary Policy committee has raised interest rates twice in recent months as a result of rising house prices and consumer spending. Expert are claiming this is increasing the North-South divide.


George says: “I don&#39t think anyone seriously suggests that we should put the whole economy at risk, we would take the risk of destabilising the whole economy, in order to protect particular sectors or regions.”


Recommended

Employers &#39blissfully unaware&#39 of stakeholder

UK employers are “blissfully unaware” of their stakeholder obligations, according to a survey by Scottish Equitable.Findings from 1,500 IFAs show 63 per cent believe employers are ignorant of their duties under the government&#39s upcoming stakeholder pension scheme.Industry experts are saying now is a good time to talk to employers and give them guidance.Scottish Equitable pensions […]

Portman deals carpetbagger blow

Portman Building Society has dealt carpetbaggers a blow by rejecting its members&#39 calls to consider changing its mutual status.Portman is holding steady by declaring members will not be asked to vote on its mutuality as their resolutions “do not comply with society rules.”Spokesperson for the website co-ordinating the de-mutualisation attack, carpetbaggers.com Richard Kendall says: “Portman […]

Lloyds TSB Euro push

Lloyds TSB is set to develop an internet stepping-stone into Europe.It has confirmed reports it is developing a “European internet offering” but would not confirm the timetable and cost of the proposal.It already operates overseas in New Zealand and Latin America.A spokesperson says: “We are interested in developing our e-commerce side of the business and […]

Halifax direct bank Spring launch

The new Halifax direct banking arm Greenfield.co is planning to launch this Spring.The bank is aiming to offer current and savings accounts, loans, mortgages and a credit card through the internet, digital television and telephone by May.Although the bank are yet to disclose its targets Greenfield.co chief executive Jim Spowart says he expects early growth […]

India rate cut – more to come?

Kunal Desai, Head of Indian Equities at Neptune Investment Management India’s stockmarket rallied this week following news that the central bank was cutting interest rates more aggressively than expected. Commenting on the rate cuts and what this means for India’s economic growth, Kunal Desai notes that there were two important details in the announcement that have […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment