HIPS red tape scrapped by the new Government

Home owners will no longer have to pay for a Home Information Pack (HIP) when selling their property after the new coalition government today scrapped the controversial red tape packs.

Housing experts welcomed the decision, saying it would help home owners and the housing market.

Home Information Packs were introduced by the labour govt to “speed up” [...]

Caution prompts ECB to keep the monetary taps open

The European Central Bank (ECB) said yesterday that it was in no mood to withdraw the emergency measures it has been using to stimulate the eurozone economy in the face of the global financial crisis.

Jean-Claude Trichet, the President of the ECB, said that it was too soon to end its support measures. Apart from reducing [...]

Ireland credit rating cut for second time

Ireland had its credit rating cut for the second time in three months and was warned that it could fall further following concerns about the “continued fragility” of its banking sector and doubts about the Government’s bailout plan.

Standard & Poor’s (S&P;) downgraded the long-term rating of the former “Celtic Tiger” by a further notch to [...]

Latvian loans rates hit EC banks

Latvian crisis deepens as Europe debates aid as Latvia has been urged to tighten its public finances with fears escalating that the recession hit Eastern European country is facing a huge currency devaluation.

The failure of a government bond auction yesterday heightened fears that the tiny Baltic state will have to devalue its currency, the lat, [...]

European Central Bank falls into line and embraces quantitative easing

Rearguard action by Germans to stave off ‘undesirable option’ dismissed by central bank’s governing council as ECB cuts loans rates to 1%.

The European Central Bank is now following the policy first adopted by the Bank of England and America’s Federal Reserve

The European Central Bank has cut interest rates a quarter point to a record low [...]

Loan Calculator radar set on Thursday’s ECB rate decision

Last month the European Central Bank (ECB) surprised the markets by only cutting interest rates by 25 basis points to 1.25%- a record low but when compared against the UK interest rates of 0.5% and against the US of 0-0.25% then comparatively still high in the current global climate.

The market wanted to see more [...]

Risk aversion trades take centre stage for loan calculator

Swine Flu continues to dominate loans market chatter.

Unfortunately it is the unknown that is causing the problem rather than anything definite and until we know whether the infectiousness of the virus, which originated in Mexico, can be contained by the World Health Organisation then we won’t be sure of the financial impact.

The death toll [...]

UK data weak- but above consensus

UK manufacturing and Industrial production data has been released this morning- both slightly better numbers than expected but that still does not hide the fact that it is grim reading.

The year on year drop in industrial production is the biggest drop since the series began in 1968. The year on year drop in manufacturing [...]

Eurozone interest rates at record low of 1.25pc

The European Central Bank has cut interest rates in the eurozone to a record low of 1.25pc, down from 1.5pc.

Economists had been expecting a bigger reduction of half a percentage point to 1pc, but speaking at a press conference after the monthly decision ECB president Jean-Claude Trichet did not rule out further cuts.

He said that [...]

Loan Calculator eyes on the ECB & G20 today

The G20 Conference in London stole the Press Inches but it was the yesterday’s economic and trading data plus financial announcements that provided the market with more interest.

From the US we had several very interesting pieces of news – both good and not so good, but Wall Street ended focusing on the positive and the [...]

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