Bank of England policymakers voted unanimously to press ahead with the latest £75bn round of quantitative easing earlier this month, amid fears that the eurozone crisis could spark a new credit crunch in the UK.
Minutes of this month’s monetary policy committee meeting, published on Wednesday, show that some of its nine members warned that more quantitative easing could be necessary “in due course”.
The Bank’s experts are concerned about a lending squeeze on the continent, which they fear could spread to the UK.
“Market intelligence suggested that a number of euro-banks had begun to reduce their lending across a broad range of sectors, particularly overseas,” they said.
“While there were few clear signs of such a sharp reaction in the United Kingdom, lending to domestic households and businesses had remained subdued and there were limits to how long banks would be able to withstand elevated funding costs without materially tightening credit availability further.”
Echoing the arguments of Bank governor Sir Mervyn King at last week’s Inflation Report press briefing, MPC members stressed that the UK is highly exposed to the continuing turmoil in the eurozone.
“Several euro-area countries faced considerable challenges in improving their competitiveness and ensuring their fiscal and external solvency.
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Tags: Easing, Quantitative Easing
ING DIRECT is offering an Opening Bonus for three of their products for Black Friday. Below are the details.
$107 Electric Orange account opening bonus
Open Electric Orange November 25th – 27th and make a total of 5 purchases (either signature or PIN-based) using your Electric Orange Card or Person2Person Payments (or any combination of the two) within 45 days. Your $107 bonus will be automatically deposited into your account on day 50. Bonus only available for new Electric Orange checking. Only one bonus will be provided per household.
$27 Kids Savings Account opening bonus
Open a Kids Savings Account November 25th – 27th and we’ll put a $27 bonus into your new account. Only available when you open a new account with at least one new Customer (either you or the kiddo must be a new Customer to ING DIRECT). $27 b
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Tags: Black Friday, Friday, Ing Direct
Legislators in Nebraska have enacted a new law affecting conservators. The new law, which is named LB 157, changes the surety bond requirement for conservators. LB 157 states that a bond is only needed for estates worth more than $10,000. The new law will become effective January 1, 2012.
Tags: Bond, Conservator Bond
We cautioned that iGObanking has a habit of yanking its great CD rates just as quickly as it launches them.
But less than a week? That’s awfully fast.
The online division of Flushing Savings Bank in New York has slashed its top-paying 36- and 60-month CD rates by as much as half a percentage point.
That not only drops iGObanking out of the top spot in those terms on our CD Rates Leaderboard, the cuts mean iGObanking’s rates aren’t even competitive anymore.
With a $1,000 minimum deposit, iGObanking (iGObanking.com) now pays 1.75% APY on 60-month CDs and 1.25% APY on 36-month CDs.
And that means our old term leaders are leaders once again.
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Tags: Cd Rates, Rates
North Country Credit Union continues to provide competitive interest rates for their certificates of deposit account. The following are the list of the current CD rates:
- 3 months 0.75% APY
- 6 months 0.95% APY
- 12 months 1.05% APY
- 18 months 1.30% APY
- 24 months 1.35% APY
- 36 months 1.80% APY
- 48 months 2.50% APY
- 60 months 2.80% APY
You can start earning these top CD rates when you open an account and deposit a minimum of $500. Once you have established your certificate of deposit account, you are no longer allowed to make additional deposits. The credit union may also charge a penalty on your account when you withdraw funds before the maturity date. The amount of penalty wil
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Tags: Country Credit, Country Credit Union, Credit Union, Union