It cut rates by 50 basis points, half a percentage point, from 1.5% to 1%, the lowest since the Bank was formed in 1694, amid growing fears of a prolonged economic downturn and even a period of deflation.
The reduction mirrored that seen last month but was far less aggressive than earlier moves. The Bank […]
Rates have been slashed from 5% to a 315-year low of 1.5% since October, and the City is expecting another cut to 1% on Thursday.
But with the official cost of borrowing rapidly approaching zero, and the economic storm clouds getting darker, attention is now turning to what else policymakers can do to stave off deflation […]
In the current economic climate many consumers are feeling the pinch and looking for ways to save money and expenses, such as life insurance, could be one of the first monthly bills to be slashed.
A grim report, earlier in the week from the International Monetary Fund (IMF) warned that the UK was […]
Multi-millionaire entrepreneur John Duffield finally saw his dream snatched away today, at a bargain-bin price.
The once celebrated New Star has been scooped up by competitor Henderson Global Investors, for a mere 2p a share.
It is a deep discount for a firm whose stock was valued at some 98% more just 12 months […]
In its annual ‘Green Budget’, the highly respected think tank also predicted that it would take until at least 2029 for government debt to return to levels seen before the credit crunch.
Whoever wins the next election, it warned, tax increases and spending cuts were inevitable. The International Monetary Fund was also to give its […]
Bill Adlard, a professional trader and market analyst, at Chart-Guide.com gave This is Money, the most gloomy - but notably the most accurate - forecast for how the index would fare in 2008.
Now Adlard says: 'I believe over the coming five years the FTSE 100 could fall by around 90% - from its all […]
The move mirrors Norwich Union's announcement last week and is just the latest revelation in the abundance of bad news that has plagued property investors over the past year.
Just last month embattled fund manager, New Star, closed its International Property Fund to withdrawals.
John Gill, of Standard Life, said: 'Whilst this is an […]
Sources have told the Standard that the tax and spending package usually unveiled in March is likely to be held back until after the start of the next financial year.
A poll today shows a slump in confidence in the Prime Minister’s handling of the economy. But CBI boss Richard Lambert urged Britons to cheer […]
Small investors were encouraged to pour billions of pounds into commercial property funds, which in turn bought office blocks, shops and warehouses, hoping to benefit from a steady increase in capital value and an ongoing income in the form of rent.
Many investors have since rued the decision as the value of their holdings has […]
The news that payouts from FTSE 100 index shares are potentially on the rise is likely to be welcomed by savers who want to make up for the falling interest rates on lacklustre savings accounts.
Andy Yates, of DigitalLook, says: 'Last year's market was a washout almost across the board but this year sensible stock […]
© 2008 Daily Financial News