Banks (Finance)
Data from the Reserve Bank of India reveals that weighted average interest rates on new fixed deposits have risen steadily, increasing by 23 basis points in March to 6.48%. This trend has been consistent since May 2022, with rates increasing in 17 of the preceding 18 months. With cost
Banks (Finance)
The Bank of England has increased the base interest rate to 4.5% from 4.25%, as consumer prices continue to rise due to factors such as the war in Ukraine and poor harvests in Europe. The decision was made by the Bank's Monetary Policy Committee (MPC), with
Banks (Finance)
Senior citizens and individuals looking for tax-saving investments can consider fixed deposits as a viable option. Tax-saver FD qualifies for deduction under Section 80C of the Income Tax Act, as long as the investment amount is up to Rs 1.5 lakh. In recent months, many banks have hiked their
Banks (Finance)
Britons are bracing themselves for another interest rate rise after official data showed that annual consumer price inflation fell to 10.1 per cent in March, higher than the 9.9 per cent forecast by economists. The stubbornly high inflation figure poses a challenge for the Bank of England'
Banks (Finance)
As one of Australia's largest banks, Westpac, has lifted its forecast for the peak cash rate to 4.1%, new figures show consumer confidence sinking and small businesses struggling with rising costs. Despite this, larger firms report a positive start to 2023, with NAB's monthly business
Banks (Finance)
Several leading Indian banks provide attractive interest rates on education loans to students studying in the country or abroad. These loans offer a blessing for those who desire to continue higher education but are financially weak or find it difficult to pay on their own. Education loans can be either
Banks (Finance)
As India's Reserve Bank hikes the repo rate, banks are upping their deposit interest rates, making them more alluring. The government has also increased interest rates on certain small savings schemes for the January-March 2023 quarter. Here's a side-by-side comparison of interest rates offered by SBI,
Banks (Finance)
As inflation rates stabilize, the Federal Reserve may raise interest rates again, potentially making it more expensive for small businesses to borrow. Despite this, alternative lenders and institutional lenders are experiencing an increase in approvals, with rates rising from 25.9% in December to 26.1% in January. Meanwhile, big
Banks (Finance)
The Bank of England is set to raise interest rates for the 10th consecutive time, taking borrowing costs to 3.5%, as it grapples with an acute policy dilemma. With the economy showing signs of weakening and inflation still above 10%, the central bank is under pressure to act decisively
Banks (Finance)
The latest retail trade figures, released by the Australian Bureau of Statistics, show a 3.9% fall in sales for December compared to the previous month. This unexpected drop, which is the largest since the implementation of the GST and during lockdown periods, has raised concerns about the impact of
Banks (Finance)
Andy Haldane, the former chief economist of the Bank of England, has expressed concern about the economic impact of rising mortgage rates and inflation on British households. Haldane, now the chief executive of the Royal Society of Arts, warned that there will be "more pain to come" for
Banks (Finance)
Toronto is reeling from a recent string of violent incidents on public transit, including a young woman being stabbed multiple times on a TTC streetcar. The attack has sparked calls for action, with the president of the largest transit union advocating for a national task force to address transit violence.
