According to Bank of England Governor Mark Carney, central banks might not be able to stop a sharp economic downturn as ever since the global financial crisis, they have used up much of their usual monetary policy arsenal. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” Carney Read More….
According to a report by consumer reporting agency Experian, credit scores across the UK have improved year-on-year. People living in the South East have the highest average credit scores of 795 in the country, which falls into the ‘fair’ category. This was followed by the South West at 788 and London at 784. In contrast, the North East has the worst credit score in the UK at 727. What’s more, Read More….
QuickQuid, the UK’s largest remaining payday loan provider, is set to close even though thousands of complaints about its lending have not yet been resolved. US owner Enova said that QuickQuid will leave the UK market “due to regulatory uncertainty”. The collapse means that thousands of borrowers who said they were missold unaffordable loans will only get a proportion of the payouts they would have been due. In the first Read More….
Regardless of how much money you have in the bank, from £1 to £1 million, it makes sense to earn as much interest as possible on every penny by opening up a savings account. Basic-rate taxpayers can earn £1,000/year tax-free and higher-rate taxpayers £500 with a savings account. What’s more, up to £85,000 per person is protected in UK-regulated financial institutions, meaning that your money will be safe if your Read More….
According to the latest figures from the Office for National Statistics (ONS), UK wage growth slowed down in the three months to September. The figures also showed the biggest annual drop in the number of job vacancies in nearly 10 years – it was the ninth consecutive monthly fall in available work, with advertised positions dropping by 18,000 to 800,000. During this three-month period, there were 32,75 million people in Read More….