There has been a 28 per cent increase in the number of British bankers and financial services workers migrating to Switzerland, writes Business Producer Ben King.
Link to the article: Channel 4 News
Thursday, 17 February 2011
Wednesday, 16 February 2011
Interest Rates: 'Don't run ahead of yourself', King
The Bank of England lowers its growth forecast and signals a rise in interest rates to tame inflation - but Faisal Islam says the Monetary Policy Committee cannot agree on the way forward.
Link to the article: Channel 4 News
In its latest quarterly report published today, the Bank said output was likely to be weaker than expected in 2011, but a double dip recession was not expected.
Inflation is likely to continue rising this year to around 5 per cent, before falling close to the Government's 2 per cent target in 2012 - but only if interest rates rise in the second quarter of 2011.
Higher mortgages
That would mean higher mortgage costs for those who are not on fixed-rate deals and more expensive borrowing for business. Yesterday, official figures showed that the Government's preferred measure of inflation - the Consumer Prices Index - had risen to 4 per cent.
Link to the article: Channel 4 News
In its latest quarterly report published today, the Bank said output was likely to be weaker than expected in 2011, but a double dip recession was not expected.
Inflation is likely to continue rising this year to around 5 per cent, before falling close to the Government's 2 per cent target in 2012 - but only if interest rates rise in the second quarter of 2011.
Higher mortgages
That would mean higher mortgage costs for those who are not on fixed-rate deals and more expensive borrowing for business. Yesterday, official figures showed that the Government's preferred measure of inflation - the Consumer Prices Index - had risen to 4 per cent.
Tuesday, 15 February 2011
Pressure on mortgages as inflation rises
As inflation rises to 4 per cent, Economics Editor Faisal Islam says an interest rate increase is likely in the next four or five months.
Link to the article: Channel 4 News
A rise would mean higher mortgage costs for millions of people who are not on fixed rate deals, as well as increased borrowing costs for businesses.
As expected, the Government's preferred measure of inflation - the consumer prices index (CPI) - rose from 3.7 to 4 per cent last month.
The increase has been attributed to a rise in the cost of oil and the decision to raise VAT from 17.5 to 20 per cent.
The Bank of England's base rate is at an historic low of 0.5 per cent, but with inflation at its highest level since November 2008, the Bank's Monetary Policy Committee (MPC) may be forced to increase it for the first time in two years.
Link to the article: Channel 4 News
A rise would mean higher mortgage costs for millions of people who are not on fixed rate deals, as well as increased borrowing costs for businesses.
As expected, the Government's preferred measure of inflation - the consumer prices index (CPI) - rose from 3.7 to 4 per cent last month.
The increase has been attributed to a rise in the cost of oil and the decision to raise VAT from 17.5 to 20 per cent.
The Bank of England's base rate is at an historic low of 0.5 per cent, but with inflation at its highest level since November 2008, the Bank's Monetary Policy Committee (MPC) may be forced to increase it for the first time in two years.
Thursday, 10 February 2011
Interest Rates kept on hold
The Bank of England votes to keep interest rates at 0.5 per cent for the 23rd month in succession.
Link to the article: Channel 4 News
Despite rising inflation, the Bank's Monetary Policy Committee (MPC) decided against an increase in rates, which are at an historic low.
The Consumer Prices Index measure of inflation rose to 3.7 per cent in December, well above the Bank's 2 per cent target - and further rises are expected this year.
But while Britain has come out of recession, there was an unexpected contraction in growth in the last three months of last year - and members of the MPC will have been wary of damaging demand in the economy by increasing borrowing costs for households and businesses.
Link to the article: Channel 4 News
Despite rising inflation, the Bank's Monetary Policy Committee (MPC) decided against an increase in rates, which are at an historic low.
The Consumer Prices Index measure of inflation rose to 3.7 per cent in December, well above the Bank's 2 per cent target - and further rises are expected this year.
But while Britain has come out of recession, there was an unexpected contraction in growth in the last three months of last year - and members of the MPC will have been wary of damaging demand in the economy by increasing borrowing costs for households and businesses.
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