Tagged: interest rates

UK Mortgage Approvals Rising Shows Housing Market Recovery Is Moving in the Right Direction, Industry Professional Says

Karim Haji, Global and UK Head of Financial Services at KPMG, comments on the recent Money and Credit data from the Bank of England. Karim noted that mortgage approvals rising for the fifth month in a row shows the housing market recovery “is still moving… Read More

US Retail Investors Are Adjusting Investment Portfolios in Anticipation of Fed Slashing Interest Rates – Report

As speculation about rate cuts intensifies, investors are preparing their portfolios, according to an update from eToro. According to data from the Retail Investor Beat from trading and investment platform eToro, 55% of US retail investors are “adjusting their investment portfolio in anticipation of the… Read More

Fed Holds Interest Rates, Anticipates Rate Cuts Later in the Year

The US Federal Reserve announced that it has decided to hold benchmark rates steady at a rate of 5.25% to 5.5% today, as the Wall anticipated. The statement issued by the Federal Open Market Committee (FOMC) indicated that job gains have moderated since early last… Read More

Estonia’s Consumer Loans Firm BB Finance Launches on Mintos Platform

Mintos is welcoming BB Finance OÜ, a consumer loans company operating in Estonia, offering new investment opportunities on Mintos “with interest rates of up to 12.5% per annum.” BB Finance was founded by CEO Martin Kolu and management board member Urmo Kokmann in 2006. The… Read More

Central Banks Likely to Keep Interest Rates Higher for Longer in Economies with Elevated Core Inflation – IMF Analysis

Central banks will likely keep interest rates higher for longer in economies with persistently elevated core inflation (excluding food and energy prices), according to an update shared by the International Monetary Fund (IMF). The IMF noted that the high-interest-rate environment, which recently “triggered banking sector… Read More

UK FCA Criticizes Interest Earned on Cash Balances: “They Need to Make Changes” (Or Else)

The UK Financial Conduct Authority (FCA) has been pounded the drums for some time now on the interest earned by consumers on cash balances held on various platforms. While interest rates have risen dramatically in the past couple of years, many financial institutions have been… Read More

American Fintech Council Backs Consumer Loan Rate Cap Legislation

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

KPMG UK Invests in Talent with Partner Appointments, Comments on Interest Rate Decision

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

After Fed Holds Steady, the Bank of England Does the Same

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

Fed is in Hover Mode as Rates Kept the Same

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

Higher for Longer: European Central Bank (ECB) Holds Rates Steady

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

Higher-for-Longer Interest Rate Narrative Became “Louder” as Bank of England Might Not Be Quick to Cut Rates – Analysis

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

Investors May Consider Rebalancing Investment Portfolios, As High-Interest Rates are Expected to Continue, Industry Professional Says

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

UK-based Online Bank cahoot Increases Interest Offered on Certain Saver Accounts

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

Real Estate Report: Increased Rates have Translated into Higher Debt Costs that have Moderated Achievable Returns in Property Markets

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

Switzerland: PostFinance Increases Interest Rate on Retirement Savings Account

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

Digital Banking: Starling Bank Raises Fixed Saver Interest Rates

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

Bank of England Holds Rates Steady Following Fed Continues Pause

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

Crypto Market Analysis: Over 75% of Bitcoin Supply Held by Long-Term Holders, Only Small Portion of BTC Held by Short-Term Holders

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

Mintos Reports Surge in Total Platform Investments of €99.5M Worth of Notes Funded, €4.3M in Interest Earned by Investors

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

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