uncategorised

Bradford & Bingley International has reviewed the interest rates on its offshore offerings following the November reductions in base rate by the Bank of England, US Federal Reserve and the European Central Bank (ECB).

The Bank of England is working on radical plans to inject cash directly into the economy - the nuclear option to be used only when interest rates approach zero, according to The Telegraph .

The gap between the European Central Bank (ECB) rate and the average interest rate paid on euro offshore savings accounts is narrowing, according to Investec Bank Channel Islands.

The European Central Bank has cut its main refinancing rate by 75 basis points to 2.5%.

The European Commission has called on the UK to allow tax deductions for all pension contributions paid by resident taxpayers to funds established in the EU and European Economic Area.

The Bank of England's Monetary Policy Committee has cut the UK base rate by 100 basis points to 2%.

Investors are predicting the likelihood of the UK Government defaulting on its debt is higher than that of Portugal, Belgium, the Netherlands, France, Finland, Germany and Norway failing to pay back their loans, The Telegraph reports.

The pound remained under pressure this morning amid the latest signs of the worsening economic crisis across the globe which sent Asian markets plummeting following a day of steep losses on Wall Street, The Times reports.

Resonant Music General Partners has hired Guernsey-based RBC Corporate Employee & Executive Services (RBC cees) as administrator to Resonant Music 1 LP, a Cayman Island-registered limited partnership.

Nationwide International has changed the savings rates on its Sterling, Euro and US Dollar accounts, following cuts to the UK, eurozone and US base rates.