POUND
Sterling has regained recent loses against the Euro but remains low against an in demand USD, moving near to an 18 month low. The pound along with the Euro, remains vulnerable to a big reduction in investor appetite for risk as pressure mounts from rating agencies on Euro zone nations. There is no UK data due until tomorrow so sterling’s performance is likely to be heavily dictated by events in Europe, with further rallies possible against the Euro and falls vs. the USD. The market will be heavily focused on CPI (inflation) data out tomorrow morning which is forecast at 4.2%.
EURO
I`m sure as you read this report you are no longer surprised about events in Europe and the single currency once again falling against the pound and the USD (into 1.26). Investors are very cautious over Europe with the threat of a mass downgrades across euro zone countries. R
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Tags: Euro
A year of high inflation and the biggest squeeze on household incomes since the early 1980s has seen public confidence in the Bank of England fall to its lowest level since Threadneedle Street was granted its independence in the late 1990s, it was revealed on Thursday.
On a day that provided evidence of a sluggish start to Christmas in the high street and a tougher climate for manufacturers, a regular opinion poll measuring the Bank’s performance showed that barely one third of people thought it was doing a good job.
Research by GfK NOP in November found that 33% of the public were satisfied with the way the Bank’s nine-strong monetary policy was setting interest rates to control inflation, which has been at least double the government’s 2% target for the whole of 2011.
The number expressing dissatisfaction rose to 25%, leaving a rounded balance of +9 points, the lowest since the survey began in 1999 and down from +29 points at the time of the May 2010 election.
Michael Saunders, UK economist at Citi, said the Bank could take some comfort from the fact that its satisfaction rating remained higher than those of David Cameron, Nick Clegg and Ed Miliband.
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Tags: Low, Public Confidence
Work for Aflac? If so, don’t overlook one of the perks of the job. Aflac Federal Credit Union is offering a 2.41% APY savings account for its members, and that’s no quack. The average national savings account rate for local banks is 0.21% while for online banks it is 0.80%. That gives you a sense of how competitive this rate is. The rate holds for deposits up to $100,000.01. The rate on deposits over this limit drops to 1.10% APY which is still highly competitive.
Like most credit unions, Aflac has a restricted field of membership. That means not everyone can join the credit union and open an account. To quality for membership, you must be an employee of Aflac, or the spouse of an empolyee. If you qualify, you can call them and request a membership packet. The packet also contains instructions for how to open a savings account.
Aflac is a medium sized credit union with $168 million in assets.
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Tags: Account, Apy Savings, Apy Savings Account, Savings Account
Central Oklahoma Federal Credit Union is pushing for the best interest rate with their certificates of deposit. The credit union has the following current CD rates:
- 6 month 1.25% APY
- 1 year 1.40% APY
- 2 year 1.80% APY
- 3 year 1.90% APY
Individuals who want to earn this highest CD rates will be required to make an initial deposit of $1,000 to open an account. Once your certificate of deposit account is opened, you will no longer be allowed to make additional deposits. You will have to wait for the account to mature before you can deposit funds or make changes on to your account. You will be notified by the credit union weeks before maturity date to inform you about the grace period given to you to make changes or completely withdraw all your funds without penalty. After this, the a
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Tags: Credit Union, Federal Credit, Federal Credit Union, Union
We have recently written articles about non recourse factoring and about recourse factoring and wanted to opportunity to make a side by side comparison of the products. This should better help you decide which one is better for you. We’ll start by saying that the subject of recourse and non recourse factoring is one of the most misunderstood of the industry. We think it’s a combination of the fact that the term non-recourse is used in other financial products and has a very different definition. We hope that this short article clears this up and help you in deciding which product is best for your company.
Non-Recourse Factoring
A commonly accepted definition of non recourse financing is “a loan that is secured by collateral where the lender can only pursue the collateral - and not the borrower in case of default.” Most people read this or something similar and assume that it applies to factoring in the same way. They believe
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Tags: Factoring, Non Recourse, Non Recourse Factoring, Recourse Factoring