Credit card lending has fallen by its largest monthly amount in more than five years, figures released by the Bank of England have shown.
The Bank of England is unlikely to raise the current base rate until at least 2016 or 2017, money markets have predicted.
UK consumers will be hundreds of pounds better off this year as a result of falling inflation and changes to the personal tax system, research has revealed.
The rise of contactless payment technology is continuing, with train passengers soon to be able to use their mobile phones to pay their fare.
The UK is deeper in recession than originally thought, as figures from the Office for National Statistics show that the economy shrank more than previous estimates had stated.
Credit card customers are at risk from a sophisticated scam that dupes them into handing over their cards and PIN, experts have warned.
The government wants to use investment in small and medium sized enterprise (SMEs) to drive economic growth, and has announced plans to launch a new enterprise research centre.
The number of credit card complaints soared last year to become the second-biggest cause of financial product dissatisfaction.
The Queen’s Diamond Jubilee celebrations could hamper the economy’s recovery due to a reduction in economic output, the Bank of England has warned. As part of the celebrations, British workers have been given an extra bank holiday, which could lead to a drop in economic activity. The Bank of England has said that the four-day […]
Sir Mervyn King has warned that the continuing crisis in the eurozone is hampering Britain’s efforts to recover from financial meltdown. The governor of the Bank of England has said that Britain is recovering from the biggest financial crisis in its history, but is being held back by a eurozone that is “tearing itself apart”. […]