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21 Apr 2008
On 21 April 2008, the Bank of England launched a plan “to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills." If confidence in the financial markets is strengthened, which is the intended outcome of this decision, it is likely that commercial banks will then pass on the BoE’s recent cuts on a key interest rate to debtors. »
12 Oct 2007
Following the crisis surrounding Northern Rock (one of the UK's largest mortgage lenders) last month, the UK Treasury has decided to make some changes to the UK banking system and to the level of depositors' security.»
30 Jan 2008
According to the FT.com, the number of UK households regularly committing part of their income to a savings account has barely increased in the last fifty years. However, the amount of money being saved has increased dramatically from less than £1 billion in 1957 to £43 billion in 2008.»
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