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Archive for May, 2014

BofE SHOULD NUDGE RATES

May 29, 2014

BoE should nudge interest rates up by the end of this year. The central bank has reasons for delaying a rate rise until it can be surer about slack but it should start sooner than later. Taking the Bank of England’s estimate of the slack in the economy at face value, a rate rise will […]


CABLE DENIES DISLOYALTY

Vince Cable has denied acting disloyally after one of his closest allies attempted to get Nick Clegg sacked as Liberal Democrat leader. Lord Oakeshott commissioned polls suggesting the party would do better without Mr Clegg at the helm. Mr Cable admits knowing about some of the polling, but denied knowing about ones in Mr Clegg’s […]


HELP TO BUY

The controversial Help To Buy scheme is mainly helping new homeowners with modest properties, says the Treasury Some 80% of the Help To Buy loans granted in the mortgage scheme’s first six months were given to first time buyers, the Treasury has said. A total of 7,313 loans were issued between October last year and […]


HAPPY WORKER

May 23, 2014

The price of happy worker is just £476 a year – as long as employers spend it the right way. Small companies can boost their workforce’s morale by investing that amount per staff member in a combination of social events such as trips to the pub and training courses, according to new research. More than […]


UKIP CAUSES A TREMOR

Ukip has delivered the first tremors of the political earthquake promised by Nigel Farage as the party weakened Labour‘s grip in its northern heartlands and caused the Conservatives to lose control of at least eight flagship councils. Labour pulled off coups by winning David Cameron’s favourite London council, Hammersmith and Fulham, as well as Redbridge, […]


UK INFLATION

UK inflation rate rises to 1.8% in April. The UK inflation rate, as measured by the Consumer Prices Index, rose to 1.8% in April from 1.6% in March, according to the Office for National Statistics. The rate of inflation as measured by the Retail Prices Index (RPI) was unchanged at 2.5%, the ONS said. The […]


U.S Academic Appointed.

May 16, 2014

Osborne appoints U.S. academic Forbes to Bank of England MPC Chancellor George Osborne said on Thursday he had appointed U.S. academic Kristin Forbes to the Bank of England’s rate-setting Monetary Policy Committee. “Dr Kristin Forbes is an economist of outstanding ability with real practical experience of policy making,” Osborne said in a statement from his […]


High LTV’s

Guide to High Loan-to-Value Mortgages The introduction of the government’s NewBuy and Help to Buy schemes have given lenders reason – and confidence – to revisit 95 per cent loan-to-value mortgages, opening the door again to lower-income first time buyers and others unable to save vast amounts for a deposit. The resurgence of high loan-to-value […]


B of E

The Bank of England has reiterated it is in no rush to raise rates, with governor Mark Carney saying they may remain low “for some time”. Nevertheless, the economy has “edged closer” to the point where interest rates would need to rise, he said. The comments led to a fall in the value of the […]


GREAT RECESSION

May 9, 2014

UK ‘great recession’ almost over, says economic institute Britain’s economy nearing its peak before the financial crisis, says NIESR as it raises its growth forecasts to 2.9% for 2014   The recession that has gripped the UK for six years is on the verge of being over after a leading economic body said the economy […]


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