Bank of England Cuts Interest Rates to 4.75%
The Bank of England has reduced its interest rate to 4.75%, following a majority vote by its Monetary Policy Committee.The decision to cut rates was not unanimous, as one MPC…
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Lending to UK firms set to remain weak this year
Continued high interest rates are expected to limit banks' lending to businesses in 2024, before a rebound in 2025. Economic forecasting group the EY ITEM Club said on Monday that…
‘Business as usual’ for commercial and household lending in the UK
There has been little change in borrowing patterns among UK consumers and businesses since the EU referendum, according to figures released on Wednesday by the British Bankers' Association (BBA). The…
Remortgaging activity jumps 22% in June
Mortgage lending in the UK was 22% higher in June, with remortgage activity rising by over a third month-on-month and year-on-year, the Council of Mortgage Lenders (CML) revealed on Tuesday. The rise…