Mortgage News
Slowdown in growth as BoE faces new rate pressure – papers
The economy suffered a marked slowdown in growth in the final three months of last year, official figures released tomorrow are expected to show.
The figures come as the governor of the Bank of England, Mervyn King, prepares to make a speech tomorrow evening at a time of harsh criticism of the Bank’s ability to control inflation.
The Prime Minister, David Cameron, has recently expressed his “concern” about price rises, reports the Independent.
Having expanded by 0.7% in the period from July to September and 1.1% in the second quarter of 2010, most economists expect growth in the last 12 weeks of the year to slow again, with the typical prediction being a modest 0.4% expansion in GDP. READ MORE…
King drawn into fresh Icesave row
A bitter war of words between Bank of England governor Mervyn King and his former counterpart in Iceland is threatening to reopen old wounds from the Icesave scandal, in which billions of pounds of British deposits were ensnared in the north Atlantic island’s financial meltdown just over two years ago.
The row comes at a sensitive time in the Icesave saga as Icelandic MPs are scrutinising a controversial bill outlining terms under which Iceland would repay foreign governments that picked up the tab for retail deposit guarantees, writes the Guardian.
Episode 5: Larger Loans and Complex Lending: Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Proposed repayment terms were agreed last month with the UK and the Netherlands. Both nations had stepped in to protect hundreds of thousands of retail depositors who had placed their savings with Icesave. READ MORE…