Tagged: interest rates

November 6, 2023 @ 12:23 pm By Tony Zerucha  |  

The American Fintech Council (AFC) has thrown its weight behind the Protecting Consumers from Unreasonable Credit Rates Act of 2023. The legislation, introduced by U.S. Senate Majority Whip Dick Durbin (D-IL) and co-sponsored by U.S. Senators Jeff Merkley (D-OR), Richard Blumenthal (D-CT), and Sheldon Whitehouse… Read More

November 3, 2023 @ 3:14 pm By Omar Faridi  |  

KPMG UK has announced the promotion of over a thousand partners and colleagues, as the professional services firm “continues to invest in the development of its talent. ” The latest round of promotions “includes 56 new partners and 116 directors.” A further 833 colleagues have also… Read More

November 2, 2023 @ 11:38 am By JD Alois  |  

Yesterday, the US Federal Reserve decided it was prudent to hold rates where they are for the time being, and today, the Bank of England decided to do the same. The Bank of England’s Monetary Policy Committee (MPC) has a similar target with inflation as… Read More

November 1, 2023 @ 3:49 pm By JD Alois  |  

The US Federal Reserve held rates steady today following a meeting of the Federal Open Market Committee (FOMC). While inflation remains stubbornly high and economic activity robust, the Fed decided it was better to wait and see if the following months of rapid rate increases… Read More

October 26, 2023 @ 9:15 am By JD Alois  |  

The Governing Council of the European Central Bank (ECB) has decided to hold rates steady today. The Council indicated that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at… Read More

October 15, 2023 @ 10:19 pm By Omar Faridi  |  

A market report has highlighted some key developments from the past week, including the following updates: Bank of England’s chief economist highlights challenge ahead for policymakers Hotter-than-expected US inflation leads to mixed trading ahead of bank results Microsoft takeover of Activision approved by regulator Middle… Read More

October 14, 2023 @ 6:05 pm By Omar Faridi  |  

US Consumer Price Index (CPI) data published Thursday supports the case that the Federal Reserve will likely “implement one more interest rate hike,” says the CEO of one of a financial advisory, asset management and fintech organization. The prediction from Nigel Green of deVere Group… Read More

October 12, 2023 @ 8:46 am By Omar Faridi  |  

cahoot, the UK-based online bank, has increased the interest offered on its Simple Saver account. cahoot Simple Saver (issue 2) now “pays customers 5.12% AER/gross variable rate interest for 12 months, on balances up to £500,0001.” Simple Saver (issue 2) is described as an easy… Read More

October 4, 2023 @ 2:17 pm By Omar Faridi  |  

Six months into 2023, private real estate was still “weathering ongoing macroeconomic headwinds,” according to an update shared by Pitchbook. In the US, the federal funds rate “has steadily increased since March 2022, hovering within a range of 5.0% and 5.25% as of the end… Read More

September 25, 2023 @ 9:23 am By Omar Faridi  |  

The Swiss National Bank (SNB) announced today that it is not currently making any changes to the policy rate. However, PostFinance is continuing to “enable its customers to participate in the positive interest rate environment and is increasing the interest rate on the retirement savings… Read More

September 24, 2023 @ 10:21 pm By Omar Faridi  |  

Starling Bank is raising the interest rate on its 1-Year Fixed Saver from 5.25% to 5.53% AER/Gross. Effective from Thursday 21 September 2023, Starling Bank customers “choosing the Fixed Saver will receive a return of 5.53% on balances of £2,000 – £1 million locked in… Read More

September 21, 2023 @ 8:03 am By JD Alois  |  

The Bank of England held benchmark rates steady following the US Federal Reserve’s decision to continue its pause. The BOE said the Monetary Policy Committee voted 5 to 4 to hold the Bank Rate at 5.25%. The minority preferred to increase rates by 25 basis… Read More

September 12, 2023 @ 10:00 am By Omar Faridi  |  

The Bitcoin (BTC) and broader digital assets market is experiencing increased volatility. Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International (CSE:FNQ), notes that Bitcoin (BTC) had “closed last week around $25,850, a 0.5% decrease in price from… Read More

September 12, 2023 @ 8:37 am By Omar Faridi  |  

The month of August has shown “promising growth” on Mintos. As noted in a blog post by Mintos, the total investments saw “a significant increase of €99.5 million worth of Notes funded, and interest earned by investors climbed to €4.3 million.” The average interest rate… Read More

August 29, 2023 @ 1:53 pm By Omar Faridi  |  

At least half of retirees could be missing out on hundreds of pounds of interest each year through “keeping their savings in accounts with rates of 3% or less a year,” according to new research. As high street banks have come under fire for failing… Read More

August 24, 2023 @ 8:06 am By Omar Faridi  |  

As the “only” bank in Denmark, Lunar has decided to offer positive interest rates on all types of accounts without any demands for tying up the funds. Lunar is reportedly “removing the upper limit on deposit interest rates, allowing all paying customers access to positive… Read More

June 28, 2023 @ 10:25 am By Omar Faridi  |  

We recently spoke with Raffaele Sadun, CFO of C2FO, a US-based global Fintech platform that’s on a mission to provide every business with equitable, convenient access to working capital. As Sadun explains, working capital isn’t just nice to have — it’s essential for business growth… Read More

June 22, 2023 @ 1:44 pm By JD Alois  |  

The Bank of England has raised its benchmark interest rate by 50 bps, increasing from 4.5% to 5%. Today, the Monetary Policy Committee (MPC) voted by 7 to 2 to increase by 50 bps. Two of the members wanted to remain at the current 4.5%… Read More

June 8, 2023 @ 8:52 am By Omar Faridi  |  

Plum, the “smart money” app, is reportedly planning to launch a new “Interest” offering in Q3, so customers can benefit more quickly and directly from rising central bank rates. Plum customers in the UK and EU will be able “to hold their money in government-backed… Read More

May 30, 2023 @ 11:49 pm By Omar Faridi  |  

LendInvest (AIM: LINV), which claims to be the UK’s leading platform for mortgages, has significantly reduced rates “across its residential mortgage range, as it continues to build the right product catalogue to support Qualified Professionals, Key Workers and customers with complex income streams and credit histories.”… Read More