Brits urged to act as a quarter have never switched savings account despite record rates January 3, 2024 Savers have been urged to be more proactive as new research shows that nearly a quarter have never switched to a different savings account or opened an additional one.
Mortgage price war set to intensify as Halifax, HSBC lead charge slashing rates January 3, 2024 The new year has kicked off with a mortgage price war, according to brokers, as lenders slash deals to compete for business in a market under pressure from high interest rates.
First-time buyer numbers ‘were lowest in a decade in 2023’ January 2, 2024 The number of first-time buyers who purchased a home with a mortgage in 2023 is estimated to be the lowest in a decade, according to a building society. Yorkshire Building Society calculated that, across the UK, there were around 290,000 first-time buyers in the mortgage market in 2023, shrinking by a fifth (21 per cent) [...]
Leading economists expect Bank of England to cut interest rates in spring January 2, 2024 Top economists have brought forward their expectations for the Bank of England's next interest rate cut to as soon as March and overwhelmingly see the central bank's monetary policy as too hawkish, according to a City A.M. poll, after promising signs in the battle against inflation.
UK banks’ costs in focus in 2024 as interest rates go from boon to burden January 1, 2024 UK banks' cost control will be a key focus in 2024 as the tailwind from high interest rates gives way to mounting margin pressure, analysts have told City A.M.
Seven things banks will be looking out for in 2024 December 31, 2023 A challenging year is in the offing for lenders – from regulatory reform to fraud crackdowns
Top business disasters of 2023: City A.M. reflects on the biggest corporate mishaps of the year December 30, 2023 Here at City A.M., we’re taking some time to reflect on some of the biggest c*ck-ups in business in the last 12 months.
Which banks were the winners and losers of 2023? December 29, 2023 After a year of big headlines, which UK banks pressed ahead and which fell behind in 2023?
Sterling could climb to $1.35 despite Bank of England interest rate cuts December 28, 2023 Lower rate expectations tend to hit currencies as it suggests investors will receive a lower rate of return on their investments, but this morning the pound climbed above $1.28 - its highest level since early August.
In memoriam: Two chancellors, Parky, Sir Bobby, business leaders and celebs we lost in 2023 December 26, 2023 As City A.M. looks ahead to the next 12 months, we reflect on those who have departed this year, and the impact they continue to have.