Stay informed with the latest UK banking news, market updates, and financial insights.
The Monetary Policy Committee has voted to maintain the official Bank Rate at 3.75%. While inflation has moderated to 2.6%, ongoing global energy supply uncertainty has prompted policymakers to maintain a cautious stance on further rate reductions.
The Financial Conduct Authority has published Consultation Paper CP26/15, proposing simplified rules for financial promotions within CONC 3.
Following concerns regarding complex billing structures, the Payment Systems Regulator is examining scheme and processing fees charged by card networks.
Data from recent FCA surveys reveals that 84% of UK adults held consumer credit products over the past year.
With easy-access savings rates averaging between 2.55% and 4.50%, savers are increasingly turning to fixed-term bonds and Cash ISAs.