Banking

Lloyds TSB to pass base rate cut on to small businesses

Lloyds TSB has announced that it is passing on, in full, yesterday's 1.5 per cent cut in the Bank of England base rate, to all small business customers, with variable rate loans and overdrafts.

Too little, too late as the BoE slashes interest rates

Latest market comment from Paul Niven, Head of Asset Allocation at F&C: "Today saw an unprecedented and larger than expected 150bp cut by the Bank of England (to 3%) and the ECB delivering, as expected, a half point cut to rates (to 3.25%).

What next for sterling as Bank of England cut rates by 1.5%?

Marc Cogliatti, Currency Strategist at HiFX comments, "After one of the most hotly debated rate decisions in recent times, the Bank of England delivered its largest interest rate cut in 15 years today, slashing the UK base rate by a full 1.50% to 3.00%, in an effort to shield the ailing British economy from the fallout of the global credit crisis.

Consumers want more rate cuts

Fool.co.uk welcomes the Bank of England's decision to slash interest rates by 1.5% to 3%. Hopefully, this is the first of many bold moves that the Monetary Policy Committee will make in the coming months.

Bank of England cuts interest rates to 3.0%

The Bank of England's Monetary Policy Committee today voted to reduce UK interest rates to 3.0%.

Britain's £150 billion expat army

Britain's army of expats have saved a collective £150 billion between them, according to the latest research from offshore savings bank, Alliance & Leicester International (ALIL). The 5.5 million British citizens who live around the globe have between them amassed far more wealth per household than those they have left behind.

Facility takeover fraud increases

Promising, figures from CIFAS the UK's Fraud Prevention Service show a 4.5% decrease on last year in the number of identity fraud victims filed by CIFAS members.

Lloyds TSB issue shareholder circular ahead of proposed HBOS acquisition

Lloyds TSB has invited its shareholders to vote on its proposed acquisition of HBOS and its capital raising plans at a General Meeting on 19th November.

Consumers must be at the heart of retail banking regulation

As the Financial Services Authority (FSA) publishes its consultation paper proposing a new framework to regulate the way that banks treat their customers, Which? personal finance campaigns manager, Doug Taylor, says:

New record for agricultural borrowing

The Bank of England has announced a new record for agricultural borrowing in the UK. Data released today (4 November, 2008) shows that bank lending to agriculture at the end of September this year rose to an all-time high of £11.1 billion.

FSA consults on regulating retail banking conduct of business

The Financial Services Authority (FSA) has published a consultation paper proposing a new framework to regulate the way that banks treat their customers.

‘Where is the consumer bail-out?' asks Which?

Billions of pounds of taxpayers' money has been committed to bail out the UK's failing banks. Now is the time for banks to help out consumers and for the Government to ensure that the banks are putting consumers at the heart of their business, says Which? as it launches a major new campaign to reform banking.