Archive for July, 2005
Greenspan says economy solid but warns of ‘significant uncertainties’
The US economy remains solid and the Federal Reserve expects to continue raising interest rates to keep inflation in check, Alan Greenspan, chairman of the central bank. But he identified three “significant uncertainties” in the generally rosy outlook – inflation pressures from the labour market, high energy prices and low long-term interest rates. He also [...]
July 25, 2005
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Interest rates held in face of rising concern
The Bank of England ignored the terrorist attacks yesterday and held interest rates steady at 4.75pc for the 11th straight month, despite a slump in retail sales and mounting signs of an economic downturn. The decision set off a storm of criticism from business groups and economic think tanks. The Confederation of British Industry said [...]
July 8, 2005
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0 per cent mortgage rate for divorcees
Plenty of credit cards offer interest-free deals but a 0% mortgage? One of Britain’s biggest building societies is today launching just that – a home loan where borrowers pay nothing at all for six months. In fact, Yorkshire Building Society will pay people £400 in the form of cashback to take out the mortgage. Fresh [...]
July 6, 2005
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Hong Kong base rate raised to 4.75 pct from 4.5 pct
Hong Kong’s interest rate base rate was raised on Friday to 4.75 pct from 4.5 pct after US Fed hike The Hong Kong Monetary Authority said it has raised the base rate for its discount window by a quarter percentage point to 4.75 pct, effective from Saturday, after the US Federal Reserve Board increased its [...]
July 4, 2005
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US interest rates rise to 3.25 per cent
The U.S. Federal Reserve, keeping a watchful eye on the impact of surging oil prices, raised it’s key interest rate by another quarter point yesterday. The action pushed the federal funds rate up to 3.25 per cent. It marked the ninth increase in the interest that banks charge each other on overnight loans and left [...]
July 1, 2005
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