Breaking News
Bank Hands Are Tied
The Bank of England has raised interest rates by 0.25% to 4.25%, with 7 members in favor and 2 voting to pause. The UK banking system is said to be resilient, and the economy is predicted to have no recession in 2023, with stronger GDP growth in Q2 2023 due to China’s growth. CPI inflation is expected to fall significantly.
Expert Jonathan Moyes, Head of Investment Research, Wealth Club, comments, “The Bank’s hands have been tied by the 0.25% rate rise in the US and the higher than-expected UK inflation print earlier in the week. A 0.25% rise was expected.
However, we understand why there is a growing chorus of commentators calling for a pause here. The US and Europe have come very close to a banking crisis over the previous two weeks and monetary conditions will tighten significantly as a result, placing further strain on the sector. We will have to wait for the May report to get the MPC’s full assessment of the recent turmoil, however, it is pleasing to see the FPC reiterate its confidence in the strength of the UK banking sector.
With inflation expected to fall rapidly in the near term and interest rates close to their peak, it seems the inflation beast has been tamed. However, we may soon discover “the cure is worse than the disease” as the banking sector groans under the weight of aggressive rate rises.”
People In This Post
Companies In This Post
- Oxford Risk: Placing the Human at the Center of Wealth and Asset Management Transformation Read more
- CLS Appoints Six New Board Directors Read more
- Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World Read more
- SumUp Launches in Canada Read more
- European Fintech Association Elects New Board of Directors Read more
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements
FreeAgent, the innovative accounting technology company, has launched a new feature into its landlord software, enabling landlords and accountants to harness artificial intelligence to input and reconcile data from letting agent rental statements.
DIFC Future of Finance Report: Digital Native, AI Driven Challenger Banks Redefining Banking Models, Signalling Industry’s Biggest Shift Since 2008
DIFC, the leading global financial centre in the Middle East, Africa and South Asia, launched the second report in its 2026 Future of Finance series.
UK Financial Institutions Look to Decade of AI-Driven Growth as Confidence Strengthens
UK financial institutions are expecting a decade of technology-led growth, with AI, emerging technologies and data now central to their expansion plans
Four Cantonal Banks Partner with Avaloq to Modernize Mobile Banking
The initiative is the result of close collaboration among four cantonal banks to jointly assess and select technology partners that best support their digitalization strategies while enhancing client experience. The project will see the banks migrate to Avaloq’s new mobile banking capabilities through a phased approach.
Hello Clever Wins Three Finnie Awards, Including Fintech Leader of the Year
Global real-time payments technology business Hello Clever has taken home three major awards at Australia’s annual Finnie Awards.
easypaisa and Binance Sign MoU to Explore Emerging Financial Technology Growth in Pakistan
easypaisa digital bank has signed a MoU with Binance to explore the adoption and growth of emerging financial technologies
Oxford Risk: Placing the Human at the Center of Wealth and Asset Management Transformation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.