The minutes from the Monetary Policy Committee’s (MPC) latest meeting show that there is a more sizable portion of the committee willing to engage in further quantitative easing (QE) than was expected. The international monetary markets jumped on this news, abandoning the pound in favour of currencies or materials that are considered to be at…

It’s no secret that wages have suffered during the financial crisis. Whether it’s been people taking pay cuts, fewer hours or just the increases in their wage packet not competing with inflation, people have found that they aren’t earning as much. However, what you may not have realised is just how big an effect this…

An investigation by journalists has revealed that some banks are charging insane rates for overdrafts on their accounts, resulting in annual interest rates of as much as 53,000,000% for money that is owed by customers. This, unsurprisingly, results in many customers finding it incredibly difficult to pull themselves out of debt as they not only…

The amount of debt that people will carry into their retirement this year has fallen compared to last year’s figure, dropping to an average of £31,200. This average is also only for those with debt, which is just one in five of those who will retire this year. Most of this debt comes from either…

Both banks and those involved in the claims industry have said that 2013 is likely to see more than £6 billion paid out to victims of the Payment Protection Insurance mis-selling scandal. During 2012, over £6 billion was paid out by the banks, more than £500,000 a month. This is an extraordinary turnaround for the…

With the festive season over, many Britons will be looking at their bank balances and wondering if they may have gone a little overboard this year. The temptation to go large for Christmas and New Year’s can be a bit too much for some, and people often find themselves taking out short term loans or…

Cancer patients across the UK have found that they face difficulty when trying to get enough together to pay for their fuel bills. This is especially true during winter when, as you can imagine, the problems become more pronounced. This information is provided by Macmillan Cancer Support, who surveyed cancer patients throughout the UK on…

As the weekends approaching Christmas passed by, there were constant cries from those watching high street revenue that shoppers were simply biding their time and the next weekend was sure to be the one where people finally stormed the shops and began to spend, spend, spend. Now that Christmas Eve is upon us and the…

Banks have been reducing the rates of interest that they offer on new savings accounts for months now, as well as closing some accounts that offer particularly good rates. As more and more banks have cut off their best offerings from customers, it has triggered a domino effect that has seen the entire market fall…

Lloyds TSB will be putting the sale of the current account packages it offers on hold. Although the bank denies that this has anything to do with mis-selling of packages, a whistleblower has claimed otherwise, and it is has made this decision suspiciously soon after a number of other high street banks have been accused…