Loans

As per the recent data furnished by an official source here on Tuesday, Inflation rate has hit the rock bottom at a furious pace before stopping on 4.5 percent.

Following the footsteps of the Bank of England, prominent banking entities of UK too have cut down on their savings accounts by a margin of more than 1.5 percent.

Contrary to the reports of UK economy finally displaying signs of recuperating from the terrific jolt given by economic crisis, it is believed that the economy is on its way into the economic doldrums, says BCC.

In a dramatic development in the UK banking business domain, axe is hanging over the jobs of RBS's 3000 employees who can be the target of the first major corporate downsizing effort.

UK's Prime Minister Gordon Brown thinks that there is ample scope for the enforcing another round of rate cuts, if needed to tame the violent bull of economic turbulence.

Banks in the United Kingdom are expected to raise their personal loan rates after the competition watchdog claimed that the lenders in the market are making big money on their insurance products.

As the war against insufficiency of liquidity goes on, commercial property segment too is feeling the heat of it after going down by an astronomical margin of 27 percent

Despite the respite offered by the Bank of England in interest rates, personal loans are still getting more expensive.

HSBC Holdings Plc, Europe's biggest bank, has remarked that its 3Q profits have rose despite it setting aside $4.3 billion to act as a shield for the US bad loans.

Even as the market is showing signs of speedy recovery, housing business segment continues to go down, as they record a slump of 5.1 percent.