Archive for September, 2009
UK unemployment hits 14 year high of 2.47 million
British unemployment hit 2.47 million in July, its highest level since 1994, as 210,000 more people lost their jobs. The number of people claiming jobseeker’s allowance rose by 24,400 to 1.61 million in August — the highest since May 1997 and the eighteenth monthly rise in a row, according to the Office for National Statistics [...]
September 16, 2009
Tags: Bank of England, Credit Crunch, Loan calculator, UK loans rates, uk recession, unemployment Posted in: Uncategorized 
No Comments
UK Inflation falls to 1.6%
Inflation fell less than expected in August to 1.6 per cent after rising fuel off set a decline in utility and food bills. The Consumer Prices Index (CPI) measure of inflation – the labour Government’s preferred measure – fell from 1.8 per cent in July and below the 1.4 per cent expected by analysts. Retail [...]
September 15, 2009
Tags: inflation, Oil, uk recession Posted in: Uncategorized No Comments
House prices will take five years to return to peak
House prices will not return to the peak reached in autumn 2007 for at least another five years, according to Ernst & Young’s Item Club. The influential group’s gloomy forecast contradicts the increasingly optimistic outlook of the Government and some commentators that the British economy has begun a sustained recovery. The recent rise in property [...]
September 14, 2009
Tags: home loans, Interest Rates, mortgage calculator, unemployment Posted in: Uncategorized No Comments
UK loans interest rate kept at 0.5% by Bank of England
The Bank of England’s Monetary Policy Committee voted yesterday to hold interest rates at 0.5 per cent for the sixth month running. The MPC also voted to make no change to the pace at which it is pumping cash into the economy through its quantitative easing (QE) programme — retaining the size of the programme [...]
September 11, 2009
Tags: Bank of England, Interest Rates, MPC, Quantitative Easing, UK loans rates, uk recession Posted in: Uncategorized No Comments
Bank of England urged to punish high street lenders
The Bank of England should carry out its threat to penalise high street lenders by cutting the interest it pays on cash held by them in its reserve accounts, The Times monetary policy committee (MPC) recommends. The plan was mooted last month by Mervyn King, the Bank Governor, as part of efforts to encourage lenders [...]
September 10, 2009
Tags: Bank of England, home loans, Interest Rates, Quantitative Easing, UK loans rates Posted in: Uncategorized No Comments
Greenspan says financial crisis will reoccur
Alan Greenspan, the former US Federal Reserve chairman blamed in some quarters for not doing enough to prevent the financial crisis, has predicted that more crashes are inevitable. Speaking a year after the collapse of Lehman Brothers, the US investment bank, Mr Greenspan said: “The crisis will happen again but it will be different. They [...]
September 9, 2009
Tags: Aussie loans rates, Credit Crunch, Greenspan, Loan calculator, recession, sub prime loans, uk recession Posted in: Uncategorized No Comments
Gold rises above $1,000 an ounce
Gold prices on Tuesday hit a fresh six month high above $1,000 a troy ounce, as investors continued to worry about the re-emergence of inflation. Traders said that the bulk of the buying came after a confluence of bullish chart signals triggered speculative flows into the precious metal. In early morning trading in London, spot [...]
September 8, 2009
Tags: consolidate debt loans, falling interest rates, Gold, Interest Rates Posted in: Uncategorized No Comments
We will sink, not swim, in a sea of new rules
Pay controls are a sign of panic. Leaders from Edward III to Edward Heath have discovered that they do not work The Black Death of 1349 was a low probability, high impact event; so was the banking crisis of 2008, and the insolvency of Lehman Brothers. When such events do occur, political leaders are under [...]
September 7, 2009
Tags: Bank of England, Credit Crunch, recession, refinancing rates, Wall Street Posted in: Uncategorized No Comments
Caution prompts ECB to keep the monetary taps open
The European Central Bank (ECB) said yesterday that it was in no mood to withdraw the emergency measures it has been using to stimulate the eurozone economy in the face of the global financial crisis. Jean-Claude Trichet, the President of the ECB, said that it was too soon to end its support measures. Apart from [...]
September 4, 2009
Tags: ECB, euro, falling interest rates, Loan calculator, Quantitative Easing Posted in: Uncategorized No Comments
Britain to lag world in emerging from recession
Britain’s economy will lag other developed nations in emerging from recession, according to the Organisation for Economic Co-operation and Development (OECD). The organisation, which exists to promote economic growth and development, said that several of the economies in the G7 group of developed nations would perform better during the whole of 2009 than it predicted [...]
September 3, 2009
Tags: Credit Crunch, euro, G7, OECD, uk recession Posted in: Uncategorized No Comments
