Interest rates – Sendika12 http://sendika12.org/ Wed, 01 Dec 2021 10:29:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sendika12.org/wp-content/uploads/2021/10/profile-120x120.png Interest rates – Sendika12 http://sendika12.org/ 32 32 Loans at favorable interest rates from the Hellenic Bank through the Pan-European Guarantee Fund | Stockwatch https://sendika12.org/loans-at-favorable-interest-rates-from-the-hellenic-bank-through-the-pan-european-guarantee-fund-stockwatch/ Wed, 01 Dec 2021 07:25:13 +0000 https://sendika12.org/loans-at-favorable-interest-rates-from-the-hellenic-bank-through-the-pan-european-guarantee-fund-stockwatch/ Business loans for the self-employed, micro, small, medium-sized enterprises (SMEs) and small mid-cap companies (small id-caps) Hellenic Bank participates in the Pan-European Guarantee Fund Scheme (EGF) and offers loans at favorable interest rates to corporate clients with the aim of supporting them during a very difficult time for the economy. The Pan-European Guarantee Fund was […]]]>
  • Business loans for the self-employed, micro, small, medium-sized enterprises (SMEs) and small mid-cap companies (small id-caps)

Hellenic Bank participates in the Pan-European Guarantee Fund Scheme (EGF) and offers loans at favorable interest rates to corporate clients with the aim of supporting them during a very difficult time for the economy.

The Pan-European Guarantee Fund was established by the European Investment Bank Group in response to the economic impact of the COVID-19 pandemic to support eligible borrowers by providing them with better access to financing at low rates of beneficial interest.

Transactions with eligible borrowers are supported by the EGF Guarantee Instrument, implemented by the European Investment Fund (EIF) with financial support from Member States contributing to the EGF.

The EGF program covers business loans and is aimed at self-employed, micro, small and medium enterprises, and small and medium enterprises that meet specific eligibility criteria and are assessed by the Bank’s internal policies and procedures.

Eligible funding objectives relate to working capital / liquidity needs, investment in tangible and / or intangible assets, business transfers and refinancing of existing debts to Hellenic Bank and other credit institutions.

The amounts and maturities of loans depend mainly on the needs of the borrower, the overall appreciation and the sector of the economy in which the borrower operates, the interest rate being lower compared to the interest rate correspondent of another commercial loan with the same characteristics provided for outside FEM.


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Letters to the Editor: November 29: “It is only when interest rates rise appropriately that we will be able to see a more even balance between supply and demand. Can Higher Rates Solve the Housing Crisis? Plus other letters to the editor https://sendika12.org/letters-to-the-editor-november-29-it-is-only-when-interest-rates-rise-appropriately-that-we-will-be-able-to-see-a-more-even-balance-between-supply-and-demand-can-higher-rates-solve-the-ho/ Mon, 29 Nov 2021 09:00:00 +0000 https://sendika12.org/letters-to-the-editor-november-29-it-is-only-when-interest-rates-rise-appropriately-that-we-will-be-able-to-see-a-more-even-balance-between-supply-and-demand-can-higher-rates-solve-the-ho/ Homes with real estate signs are pictured in Leslieville, Toronto on October 21.Christopher Katsarov / The Globe and Mail Keep your opinions sharp and informed. Receive the Opinion newsletter. register today. Unanswered questions Re We Need Answers On Canada’s Response To COVID (November 25): Indeed, the appropriate time for a full investigation should be now. […]]]>

Homes with real estate signs are pictured in Leslieville, Toronto on October 21.Christopher Katsarov / The Globe and Mail

Keep your opinions sharp and informed. Receive the Opinion newsletter. register today.

Unanswered questions

Re We Need Answers On Canada’s Response To COVID (November 25): Indeed, the appropriate time for a full investigation should be now. And it would be essential for such a survey to examine the effectiveness of public communications throughout this pandemic, at all levels.

Inadequate or inconsistent public engagement can become the Achilles heel of the world’s most robust warning, risk assessment and preparedness systems.

Andréas Souvaliotis Toronto

Government policy

Re Liberals under fire after US raises tariffs on softwood lumber (Business Report, November 26): Our government is “disappointed” by US tariffs on softwood lumber. Canadian softwood lumber.

Our leaders may also be “concerned” about Canada’s massive and growing trade deficits with China and the European Union. Perhaps they have “taken note” of prominent think tanks shouting loud and clear about the extremely low levels of capital investment in Canada. Maybe they don’t want to “rock the boat” with bold moves to cut drug costs or tax the Internet giants’ Canadian profits.

If our leaders do not fight for Canadians, our businesses and the economy, Canada will be increasingly shaken by outside interests. The country’s prosperity depends in large part on strong bilateral trade and private investment in Canada. Our leaders should wake up and take a serious interest in our economy.

Tony hooper Toronto


Speech from the Throne suggests Trudeau is eager to establish his legacy – and hang on to the consequences (November 25): Columnist John Ibbitson says Prime Minister has “a weak electoral mandate” to move forward with key priorities such as reconciliation, the fight against climate change, new housing supports and a national childcare program.

The NDP’s policies on these issues during the last campaign were at least as progressive as those of the Liberals and, taken together, won a majority of the votes. In view of this, would it not be the undemocratic approach not to pursue these initiatives, rather than to continue them?

Doug Ewart Toronto

Rise

Re BoC warns of destabilized economy with rates set to rise (November 24): If a young couple in Toronto or Vancouver pays $ 2,500 a month in rent, that same $ 30,000 over a year can earn much more a million dollars at the current loan rates. If they can find savings or homemaking for a down payment, it is understandable why the demand for housing far exceeds supply with prices rising.

This was not possible when many of us paid between 7% and 12% on mortgages in the past. Money is now rapidly losing value due to inflation.

It is only when interest rates rise appropriately that we will be able to see a more equal balance between supply and demand.

Laurie Kochen Toronto

Climate fight

New report by nonprofits asks Canadian businesses to prioritize goal over money (Business Report, Nov 25): Goal can help businesses earn more or lose less silver. The report does not ask them to avoid self-interest, but to practice it in a more nuanced way – to seek the good as a means of doing good, and not as a moral end in itself.

Joel bakan Vancouver


Re The Costs of Ignoring Canada’s Climate Calculation Are Huge (Nov 24): Reducing the amount of damage from future climate devastation requires bold investments in adaptation, more early warning systems efficient to more resilient roads, bridges and dikes.

While the upfront costs may seem huge, the Global Commission on Adaptation estimated two years ago that the benefits far outweigh the costs by four to one. In Canada, the federal government has only recently started responding to the need for an adaptation plan.

He should spearhead an urgent national process, bringing together provincial governments and municipalities across the country, as columnist Gary Mason puts it, “to establish a comprehensive climate adaptation plan that begins now. Not in years.

Roy Culpeper President, Group of 78 Ottawa

Chain challenges

Re France, Great Britain Spar Over Migrant Crossings After Noyades (November 26): So continues the ever-growing litany of tragic stories of those seeking security and the freedom of want in Western Europe.

After having endured God knows how many trials and dangers to reach Europe, why are so many refugees ready to take on a new bet by risking such perilous crossings of the Channel? That those numbers have tripled this year suggests to me utter despair, at the root of which it should be imperative to examine and find a cure.

Rather than swallow the explanation that Britain is at fault because of its lax immigration policy, is the boot surely on the other foot? These refugees in France do not receive any government assistance. Their status remains precarious, often for years. Until this complex issue receives adequate attention on the mainland side of the Channel, such tragedies are likely destined to go on and on.

Alain Scrivener Cornwall, Ont.

Men and women

Re Femicides Are On The Rise, Inflamed By The Pandemic, Data Show (November 25): Since becoming a member of the Canadian Federation of University Women, our organization has been campaigning to end violence against women and in particular the femicide. Basically, we haven’t made any progress and I don’t think we will – until more men start to see these blatant attacks on human rights as a serious problem.

We know that men are the most common perpetrators of domestic violence. But when did these men hear from other men that such behavior is unacceptable? When have other men refused to laugh at their crass jokes or support their degrading language? We know these things happen, and we know there are men who ignore it.

Until femicide becomes a problem for all men, women will likely continue to be murdered by their intimate partners or by men who know them. A request to men: act and speak out to end this odious situation.

Linda sheppard Toronto

Death is a funny thing

Re A Sign Of Our Debased Times: Vulgarity Is On The Rise, The Spirit Is On The Wane (November 26): The late Norm Macdonald once appeared on View, ostensibly to atone for a perceived moral transgression. To the incomprehension of the animators, he notes that everything is irrelevant in the comedy.

Therefore, when culture is reduced to politics, the comedy must be crushed. Both camps seem to know it, hence the vulgarity of the right, which aims to stifle the spirit, and the police of the speech of the left, which intends to kill spontaneity.

Where comedy dies, a totalitarian culture emerges.

Ryan whyte Toronto


Letters to the Editor should be exclusive to The Globe and Mail. Include your name, address, and daytime phone number. Try to limit the letters to less than 150 words. Letters can be edited for length and clarity. To send a letter by e-mail, click here: letters@globeandmail.com


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Central Bank of Sri Lanka keeps key interest rates at current levels – the Island https://sendika12.org/central-bank-of-sri-lanka-keeps-key-interest-rates-at-current-levels-the-island/ Fri, 26 Nov 2021 23:31:35 +0000 https://sendika12.org/central-bank-of-sri-lanka-keeps-key-interest-rates-at-current-levels-the-island/ Monetary Policy Review: No. 08 – November 2021 The Monetary Board of the Central Bank of Sri Lanka, at its meeting on November 24, 2021, decided to maintain the Permanent Deposit Facility (SDFR) rate and the Permanent Loan Facility (SLFR) rate of the Bank. central at their current levels of 5.00 percent and 6.00 percent, […]]]>

Monetary Policy Review: No. 08 – November 2021

The Monetary Board of the Central Bank of Sri Lanka, at its meeting on November 24, 2021, decided to maintain the Permanent Deposit Facility (SDFR) rate and the Permanent Loan Facility (SLFR) rate of the Bank. central at their current levels of 5.00 percent and 6.00 percent, respectively. The Council arrived at this decision after carefully considering macroeconomic conditions and expected developments on the national and global fronts. The Council noted the recent acceleration in inflation, mainly due to supply disruptions and soaring world commodity prices, and reaffirmed its commitment to maintain inflation at target levels over the medium term with appropriate measures, while helping the economy to reach its potential in the period ahead.

Sri Lankan economy is gradually recovering The Sri Lankan economy experienced a strong recovery in the first half of 2021, supported by fiscal and monetary stimulus measures. The re-emergence of the COVID-19 pandemic and the resulting disruptions to production activities appear to have somewhat affected the recovery underway in the third quarter of 2021. However, available high-frequency indicators suggest that economic activity is returning. quickly to normal. The removal of lockdown measures related to COVID-19 in October 2021 and the successful roll-out of the COVID-19 vaccine nationwide would help activity in the coming period. While real GDP growth is projected at around 5% in 2021, the continued increase in COVID-19 infections both globally and nationally could impact this expectation to some extent.

External sector remains resilient in the face of strong headwinds Merchandise export revenues remained strong, registering more than US $ 1 billion for the fourth consecutive month in September 2021. Preliminary data shows that merchandise exports registered a record high in October 2021. Import spending also increased, widening the trade deficit in the nine months ending September 2021 compared to the corresponding period the previous year.

The tourism sector has shown strong signs of recovery with the easing of restrictions. Despite moderate inflows due to workers’ remittances in recent months, a rebound is expected in the coming period with the continued increase in worker migration and efforts to facilitate remittance flows through formal channels.

The depreciation of the Sri Lankan rupee against the US dollar is recorded at 7.2% so far in 2021. The exchange rate has remained stable at around Rs200-203 against the US dollar for the past three month. At the same time, gross official reserves were estimated at US $ 2.3 billion at the end of October 2021. However, this does not include the bilateral currency swap facility with the People’s Bank of China (PBoC) of US $ 10 billion. of CNY (equivalent to approximately US $ 1.5 billion). In addition, measures taken by the government and the Central Bank to attract new foreign currency inflows, as well as expected inflows into the private sector, including the financial sector, are expected to increase gross official reserves, thereby strengthening the external sector in the period to come. . Concretely, a greater conversion of export earnings is observed, while negotiations with foreign counterparts from the Government and the Central Bank are progressing, generally in line with the path envisaged in the half-yearly roadmap.

Market interest rates rose, reflecting the pass-through of restrictive monetary conditions. In response to restrictive monetary and liquidity conditions, most market lending rates have adjusted upward. Yields on government securities, which rose significantly, stabilized with stronger subscriptions at primary auctions, reflecting improving market sentiment. At the same time, credit to the private sector, which has grown in particular thanks to the easing of monetary conditions, slowed down somewhat in September 2021.

However, data for the nine months ending September 2021 indicate that credit flows, particularly to the industrial and service sectors of the economy, have improved significantly, thereby supporting the recovery of the economy. . In the meantime, public sector credit from the banking system, especially net credit to the government, continued to expand. Overall, the growth of broad money (M2b) slowed in September 2021, in line with the moderation of credit to the private sector and the decline in the net foreign assets of the banking system.

Inflation has accelerated recently, mainly due to supply side disruptions and soaring international commodity prices Supply side disruptions, removal of domestic price controls and Upward adjustments in several administratively determined prices to reflect rising global prices for energy and other commodities as well as the gradual strengthening of aggregate prices under demand conditions, have recently pushed inflation above target levels. A further acceleration in headline inflation is possible in the immediate future, although these movements are expected to be transitory. The monetary policy measures already taken by the Central Bank will help to curb excessive demand pressures and prevent the build-up of unfavorable inflation expectations.

Key rates are maintained

at current levels

In view of the current and expected macroeconomic developments described above, the Monetary Board has found the current key interest rates to be appropriate. Nevertheless, the Central Bank will remain vigilant and will continue to monitor national and global macroeconomic and financial developments and take appropriate measures, as necessary, with the aim of ensuring the stability of the external sector, keeping inflation in the desired range and support sustained economic recovery.


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Special report on nationwide affordability: higher interest rates likely to have a moderating influence on the housing market https://sendika12.org/special-report-on-nationwide-affordability-higher-interest-rates-likely-to-have-a-moderating-influence-on-the-housing-market/ Thu, 25 Nov 2021 10:09:08 +0000 https://sendika12.org/special-report-on-nationwide-affordability-higher-interest-rates-likely-to-have-a-moderating-influence-on-the-housing-market/ High house prices relative to average incomes continue to make increasing a deposit a significant hurdle for first-time buyers (FTBs). With a 20% deposit equaling 110% of average income, this is a record, down from 102% just a year ago. House prices have grown faster than profits over the past year, leading to an increase […]]]>

High house prices relative to average incomes continue to make increasing a deposit a significant hurdle for first-time buyers (FTBs).

With a 20% deposit equaling 110% of average income, this is a record, down from 102% just a year ago.

House prices have grown faster than profits over the past year, leading to an increase in the cost of servicing a mortgage relative to take-home pay, leaving the Northern regions and Scotland the more affordable.

Growth in house prices has outpaced profit growth over the past year and the house price-to-middle-income ratio (HPER) has hit an all-time high.

In the third quarter of this year, the UK house price-to-first-time buyer (FTB) earnings ratio stood at 5.5, above the previous record of 5.4 in 2007, and well above above the long-term average of 3.8, commented Andrew Harvey, Senior Economist. .

Harvey continued, while there is still a significant gap between the least affordable and the most affordable parts of the UK, it has remained broadly stable over the past year.

London continues to have the highest house price-to-earnings ratio at 9.0, although it remains below its all-time high of 10.2 in 2016.

Scotland continues to have the lowest house price-to-earnings ratio in the country at 3.4, followed closely by the Northern region at 3.5.

Over the longer term, northern England and Scotland have historically recorded lower HPERs than southern England, Wales and Northern Ireland.

One of the consequences of high real estate prices relative to income is that it makes filing a deposit a significant challenge for potential first-time buyers.

Indeed, right now, a 20% down payment now equates to 110% of a typical full-time employee’s pre-tax income, a record high and up from 102% a year ago.

Nevertheless, there are substantial regional variations.

A significant proportion of first-time buyers rely on help from friends and family or an inheritance to help them put together a down payment.

In 2019/20, around a third of first-time home buyers received help setting up a down payment, either in the form of a gift or loan from family or friend, or by inheritance, against 27% 25 years ago.

Affordability is becoming increasingly strained in all regions despite low mortgage rates

House prices have continued to rise faster than profits in recent quarters, which means affordability is increasingly strained.

Due to historically low interest rates, the comparative cost of servicing a typical mortgage loan is still well below pre-financial crisis levels.

However, even on this measure, affordability becomes more difficult.

First-time homebuyers’ mortgage payments (based on a mortgage at 80% of the value of the loan, at going mortgage rates) are currently slightly above the long-term average, at 31% of take-home pay.

The cost of servicing a typical mortgage as a percentage of take-home pay is now above its long-term average in most parts of the UK. However, before the pandemic, this was only the case in one region (London).

Recent price trends suggest that an element of rebalancing is occurring where most of the regions that have experienced the strongest price growth are those in which affordability is still near or below the long-term average.

What impact could rate hikes have?

There has been growing speculation that the Bank of England’s Monetary Policy Committee (MPC) will raise interest rates in the coming months.

Obviously, a lot will depend on the Committee’s assessment of the outlook for growth and inflation, but investors expect the bank rate to be raised from its current record low of 0.1%. towards the end of the year – most likely 0.25% or 0.5% – and possibly reaching 1% in 12 months.

Provided the economy does not weaken significantly, the impact of a limited hike in interest rates for existing borrowers is likely to be modest, especially since only 20% of outstanding mortgages are at interest rates. variables.

The vast majority of new mortgages in recent years have been extended to fixed rate, with five-year fixed rate agreements becoming increasingly popular, accounting for almost half of new mortgages.

Despite the sharp rise in swap rates in recent months, mortgage rates have remained close to their historic lows.

But that might not persist, and if new mortgage rates were to rise, it would put additional pressure on affordability for potential first-time buyers.

We modeled the impact of mortgage rate increases on the initial mortgage payments of the first buyer, assuming an 80% mortgage over 25 years.

A 0.4% rate hike would increase initial mortgage payments by £ 34 per month.

This represents a modest increase in mortgage payments over take-home pay from the current level of 31% to 32%.

A rate hike of 0.9% would increase initial mortgage payments by £ 79 per month (from current levels), which is 34% of take-home pay.

If the economic recovery remains resilient, rising interest rates should exert a moderating influence on the housing market, as well as ease price pressures across the economy.

Barrows and Forrester Managing Director James Forrester said:

“Much has been said about the government’s success in negotiating the pandemic with regard to the real estate market. While it’s fair to say that the market has never looked stronger, this statement is largely based on perspective.

If you own a home and have experienced a double-digit increase in value over the past year, you are definitely over the moon.

However, those struggling to muster a sufficient deposit are unlikely to share this view.

The cold reality is that if you aren’t looking to buy with the financial backing of a second salary, the backing of the Mom and Dad Bank, or if you aren’t earning much more than the average person in your area, the The dream of home ownership is one that you probably won’t realize until much later in life than you would like.

Benham and Reeves director Marc von Grundherr commented:

“We have seen a respectable level of wage growth in recent years, but unfortunately this has not been enough to match the strength of the UK housing market.

At the same time, record interest rates over such an extended period have been great for those taking their first step on the real estate ladder with a mortgage, but they have been terrible for those trying to save.

Even in London, where house price growth has been fairly subdued compared to much of the UK and wages are more robust, the barrier to homeownership is still incredibly high.

Sadly, there isn’t much that can be done, although the cyclical nature of the real estate market suggests that what goes up, will come down.

So sitting around and waiting for a correction is probably the best immediate bet open to troubled homebuyers. “



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What could Jerome Powell’s appointment as Fed chairman mean for interest rates in 2022? https://sendika12.org/what-could-jerome-powells-appointment-as-fed-chairman-mean-for-interest-rates-in-2022/ Mon, 22 Nov 2021 19:31:15 +0000 https://sendika12.org/what-could-jerome-powells-appointment-as-fed-chairman-mean-for-interest-rates-in-2022/ Biden has announced he will appoint Jerome Powell for a second term as Federal Reserve chairman. (iStock) President Joe Biden announced on Monday that he would appoint Federal Reserve Chairman Jerome Powell for a second term, his first ending in February 2022. Biden also announced his intention to appoint Fed Governor Lael Brainard – a […]]]>

Biden has announced he will appoint Jerome Powell for a second term as Federal Reserve chairman. (iStock)

President Joe Biden announced on Monday that he would appoint Federal Reserve Chairman Jerome Powell for a second term, his first ending in February 2022. Biden also announced his intention to appoint Fed Governor Lael Brainard – a member of the Fed since 2014 and former Secretary of the Treasury – as Vice Chairman of the Board of Governors of the Federal Reserve System. Brainard is the only Democrat currently in the Fed Board of Governors.

The nomination serves as a vote of confidence for Powell and the Fed’s monetary policy response to the economic effects of the COVID-19 pandemic.

“While much remains to be done, we have made remarkable progress over the past 10 months to get Americans back to work and jumpstart our economy,” he added. Biden said in a statement. “This success is a testament to the economic agenda I have pursued and the decisive action the Federal Reserve has taken under the chairmanship of Powell and Dr. Brainard to help us get through the worst downturn in modern American history and put us on the way to recovery.

“As I said before, we can’t just go back to where we were before the pandemic, we need to better rebuild our economy, and I have no doubts that President Powell and Dr Brainard are focused on sustaining the Low inflation, stable prices and full employment will make our economy stronger than ever, ”he said.

The Fed will likely continue its current interest rate trajectory with Powell in charge, meaning it could start raise the federal funds rate in 2022. As a result, interest rates will be pushed up, but you can take advantage of low rates now by refinancing your mortgage. It can also save you hundreds of dollars on your monthly payment. Visit Credible to compare several lenders at once and see how much you could save.

AS INFLATION IS INCREASING AT A RECORD PACE, WHAT IMPACT COULD BIDEN’S RECONSTRUCTION PLAN HAVE?

Confirmation of Fed positions goes to Senate

Biden’s appointments will now head to the Senate, where they are expected to pass. In 2018, Powell was confirmed in a bipartisan vote with 84 senators voting yes upon his appointment. Notably, Vice President Kamala Harris, then a senator from California, voted no to his appointment in 2018.

Powell could face opposition in the Senate from progressives who say he hasn’t been aggressive enough on climate change, according to a statement released by Sens. Sheldon Whitehouse (DR.I) and Jeff Merkley (D-Ore.).

“President Biden must appoint a Fed chairman who will ensure that the Fed fulfills its mandate to protect our financial system and shares the administration’s view that tackling climate change is the responsibility of every decision-maker . This person is not Jerome Powell, “the statement read.

The White House attributed the 5.6 million jobs created during the economic recovery and the 4.6% drop in unemployment – two years faster than expected – to Biden’s policies and Powell’s “stable” leadership.

With Powell likely to serve a second term after Senate confirmation, the central bank is expected to continue its current momentum to increase interest rates Next year. You can now take advantage of low rates by taking out a personal loan to consolidate high-interest debt. Visit Credible to compare several lenders at once and choose the one that offers the best interest rate for you.

FEDERATED TO START REDUCING ASSETS, ECONOMISTS INDICATE INTEREST RATES WILL BE HIGHER

What to expect from interest rates in 2022

Interest rates set to rise in the coming year as the Fed begins reduce its economic recovery and is looking to start raising rates. The Fed is currently planning it will increase the rates next year for the first time since the start of the coronavirus pandemic.

President Biden said he was confident in the leadership of Powell and Brainard to come out of the pandemic.

“Basically, if we are to continue building on this year’s economic success, we need stability and independence at the Federal Reserve – and I have full confidence after their trial by fire over the past 20 months that President Powell and Dr. Brainard provide the strong leadership our country needs, ”Biden said.

Take advantage of low rates now by refinancing your student loans and saving on your monthly payment. Visit Credible to speak with a student loans expert and get all of your questions answered.

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert column.


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Interest Rates ‘Will Go Up’ – What To Do With Your Savings, Investments, and Mortgage | Personal Finances | Finance https://sendika12.org/interest-rates-will-go-up-what-to-do-with-your-savings-investments-and-mortgage-personal-finances-finance/ Sat, 20 Nov 2021 04:01:00 +0000 https://sendika12.org/interest-rates-will-go-up-what-to-do-with-your-savings-investments-and-mortgage-personal-finances-finance/ Interest rates have been historically low recently, impacting Britons in various ways. Although speculation has increased, the central bank could raise its key rate in early November, it once again held the rate at 0.1% – where it has been since March 2020. Despite no change, there will be no change. doubtless impact a number […]]]>

Interest rates have been historically low recently, impacting Britons in various ways. Although speculation has increased, the central bank could raise its key rate in early November, it once again held the rate at 0.1% – where it has been since March 2020. Despite no change, there will be no change. doubtless impact a number of aspects of British life, including savings, investments and mortgages.

Express.co.uk spoke exclusively with Karen Barrett, Founder and CEO of Impartial.co.uk about the matter.

Ms Barrett said interest rate hikes are likely to come in the near future and it is important to be prepared.

First, it focused on mortgages, following a number of providers speculatively raising their rates even before the central bank’s decision was announced.

Ms Barrett said: “We are finding that mortgage lenders are already assessing expected increases in their new transactions, so re-mortgaging from a fixed rate will be more expensive in the future.”

READ MORE: Martin Lewis shares top two ‘unbeatable’ savings accounts

“Those on their lender’s tracking rate or standard variable rate – as well as those with other loan or credit card debt that is not fixed have had a stay of execution for this month but will see their repayments increase as soon as the bank decides to increase the rates.

However, another key area likely to be affected is savings, and savers generally look to the Bank of England for any optimism about their situation.

Ms Barrett continued: “Savers have been going through tough times for some time now and the recent decision has done nothing to improve their situation.

“Interest rates on savings accounts are controlled by the account providers and therefore should not increase just because the bank rate does.

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“But a higher discount rate would make it easier for providers to raise interest rates for their savings customers and to provide attractive offers to win new customers.”

Many individuals have also decided to dip their toes in the water of investing recently, especially with returns on savings falling so far behind.

However, there are also implications to consider in this sphere as well, which are brought about by changes in interest rates.

Ms Barrett added: “The impact on financial markets of rising stock market interest rates is much less certain.

“In the recent past, stock prices have fallen as bond markets fluctuated due to higher interest rate expectations.

“The stock market has performed well lately and has remained indifferent despite the prospect of rising interest rates.

“But equity investors should expect some level of reaction as the stock market processes the latest news on interest rates.

“If the market becomes too volatile, it could turn more people away from investments and into higher interest savings accounts.

“With an inflation forecast of 5% next year, rates should surely be on the rise.”

Ms Barrett concluded by urging the British to seek independent and reliable advice on their situation.

Whether it’s mortgages, savings, or investing, experts can often offer their knowledge of the markets to help individuals.

Asking for advice, she said, also ensures that Britons are making the right choice for their personal circumstances.


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Higher interest rates ‘could weigh on UK property market’ | Housing market https://sendika12.org/higher-interest-rates-could-weigh-on-uk-property-market-housing-market/ Fri, 19 Nov 2021 13:18:00 +0000 https://sendika12.org/higher-interest-rates-could-weigh-on-uk-property-market-housing-market/ Nationwide Building Society said there could be a “cooling” of the scorching UK housing market due to rising inflation and interest rates. Robert Gardner, chief economist of the UK’s second-largest mortgage lender, said the housing market is currently “remarkably strong” despite the end of incentives such as the government’s stamp duty holiday in late September. […]]]>

Nationwide Building Society said there could be a “cooling” of the scorching UK housing market due to rising inflation and interest rates.

Robert Gardner, chief economist of the UK’s second-largest mortgage lender, said the housing market is currently “remarkably strong” despite the end of incentives such as the government’s stamp duty holiday in late September.

However, he said that in the coming months a lot will depend on the performance of the economy as a whole.

“There are some things that could moderate [housing demand] a bit in the next few quarters. For example, there aren’t a lot of homes on the market right now. This may slow down activity.

“If you look at rising inflation squeezing household budgets a bit and interest rates rise, that should have a chilling influence as well. But if the recovery continues, activity should remain fairly solid. “

Earlier this month, Halifax said house prices hit a new high in October, topping an average of £ 270,000 for the first time.

However, as the Bank of England decided this month to keep interest rates at an all-time low of 0.1%, it could increase borrowing costs as early as December, against a backdrop of falling prices. unemployment and rising inflation.

Last month, the Bank’s chief economist Huw Pill said he expected inflation to exceed 5% by the start of next year.

Earlier this week, the Office for National Statistics reported that inflation in October had reached its highest level in a decade. A sharp increase in gas and electricity prices pushed inflation – as measured by the Consumer Price Index – to 4.2%, from 3.1% in September, the highest rate. high since November 2011. The Bank of England’s official inflation target is 2%.

Gardner made his comments as Nationwide reported that its half-year profits at the end of September more than doubled to £ 853million from £ 361million the year before.

Nationwide said it benefited by continuing to lend during the early stages of the coronavirus pandemic, while others have stopped. Profits were also boosted by the release of £ 34million which had been set aside to cover possible losses caused by Covid-19 which did not materialize.

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Joe Garner, chief executive of Nationwide, said its policy of allowing its 13,000 office workers to work from anywhere in the UK was doing “extremely well”.

He said, “We continue to see increased productivity. The area to which we pay particular attention is how to build culture and cohesion [with staff remote working]. “

Nationwide said it operates around 650 branches across the UK, backed by a commitment to keep at least one in each town or city until at least 2023. Sara Bennison, Nationwide’s director of product and marketing, said the company had closed 5% of its branches in the past five years, compared to an average of 30% for large banking competitors.

Garner has expressed a desire to step down as chief executive, but said on Friday there was no update on succession plans.

“I remain fully focused on leadership nationally and will do so until the very last second,” he said.


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ALEX BRUMMER: Rising global interest rates threaten exuberant markets https://sendika12.org/alex-brummer-rising-global-interest-rates-threaten-exuberant-markets/ Wed, 17 Nov 2021 21:56:32 +0000 https://sendika12.org/alex-brummer-rising-global-interest-rates-threaten-exuberant-markets/ ALEX BRUMMER: Rising global interest rates could wreak havoc on over-exuberant financial markets By Alex Brummer for the Daily Mail Posted: 21:56 GMT, November 17, 2021 | Update: 21:56 GMT, November 17, 2021 The tide on global interest rates appears to be reversing. It’s not just the Bank of England feeling the heat as consumer […]]]>

ALEX BRUMMER: Rising global interest rates could wreak havoc on over-exuberant financial markets










The tide on global interest rates appears to be reversing.

It’s not just the Bank of England feeling the heat as consumer prices peak 4.2% in 11 years, but the Federal Reserve and the European Central Bank.

The combination of fiscal laxity induced by the pandemic, monetary accommodations and market bubbles is radically reshaping the economic landscape. In the UK, it is hard to see the Bank of England resisting the pressure for an interest rate hike as early as December.

Rate hike: It’s not just the Bank of England feeling the heat as consumer prices peak 4.2% in eleven years, but the Federal Reserve and European Central Bank too

What is more surprising is the change in mood in the United States. So far, the view of the Fed and Wall Street is that the normalization of interest rates from very low levels will wait until the central bank finishes its bond buying program next year.

What has changed is the galloping recovery of the most resilient economy in the G7 and the disproportionate inflation it entails.

The United States is headed for the fastest growth in a generation, retailer sales are booming, the wages of the lowest-paid workers are skyrocketing, the hiring of new employees is increasing, and bank balances are soaring. households soar.

There is impatience over the Fed’s reluctance to remove the punch bowl. Morgan Stanley boss James Gorman, who sits on the New York Fed’s board of directors, thinks it’s time to end the delays and move straight to the hike in the key federal funds rate, which guide all other US borrowing costs, starting from the current level near zero.

The theory among New York bankers is that the only reason Republican Fed Chairman Jay Powell is refraining from raising rates is because he wants to convince President Joe Biden that he is okay with it and that he will be reappointed for a second term when the decision is taken. in the next few days.

The irony is that the growth takeoff hurts rather than helps the president because the public doesn’t like racing prices.

The current dissonance with the Fed could make it easier for the president to nominate Democratic economist Lael Brainard, the only other candidate questioned.

There is also a backlash against Christine Lagarde’s money printing and the ultra-low interest rate regime at the European Central Bank (ECB).

Isabel Schnabel, German member of the ECB’s board of directors, warns that with inflation of 4.1% in the euro zone, the bank must be ready to control the cost of living.

Transitory inflation has been kicked out of the lexicon of central banks. Taming the price tiger is again seen as necessary.

The impact of this on over-exuberant financial markets could be the next serious story.

The residents repulsed

For too long, corporate boards have been swayed by activists who are often armed only with stocks leased to large battalion institutions and complex derivatives.

Many boards are too complacent and change agents are needed.

It would be much better if the activism came from the real owners of the businesses rather than the get-rich-quick financiers.

The power company SSE may not be that popular in these times of soaring energy costs, but it has given Paul Singer’s serial nuisance a red card.

Following COP26, the decision to invest £ 12.5 billion in renewable capacity by 2026 is to be applauded.

He sets an example for other major power companies. What is disappointing is that the vision gets little rewards and the short-termism has caused the SSE share price to drop 4.3% in the last few trades.

SSE is not the only FTSE 100 company to keep activists at bay.

Managing Director Emma Walmsley is doing an admirable job in her own way at Glaxosmithkline with new treatments, including a breakthrough in HIV, emerging from the pipeline quickly and furiously. The valuations currently placed on its consumer healthcare business, when split, are much higher than originally expected.

Jes Staley’s stewardship at Barclays ended in a vulgar manner and a row over his salary. But his relentless pursuit of the investment bank dollar ended New York activist Ed Bramson’s challenge.

Maybe a trend.

Numeric fraction

If there was any doubt as to where the real power now lies in global commerce, the issue was clarified by Amazon’s decision to sack US card giant Visa – causing its shares to go off the rails.

The biggest threat to traditional finance are the giants of Silicon Valley.

They start to flex their muscles.


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Can You Lock In Interest Rates On Auto Loans? https://sendika12.org/can-you-lock-in-interest-rates-on-auto-loans/ Mon, 15 Nov 2021 21:07:36 +0000 https://sendika12.org/can-you-lock-in-interest-rates-on-auto-loans/ Some manufacturers offer to lock in rates on custom orders, so you can take advantage of current deals, even if the car isn’t on the lot yet. Since many auto manufacturers are experiencing inventory shortages due to supply chain issues, this can be a good opportunity to save money on a new car if you […]]]>

Some manufacturers offer to lock in rates on custom orders, so you can take advantage of current deals, even if the car isn’t on the lot yet. Since many auto manufacturers are experiencing inventory shortages due to supply chain issues, this can be a good opportunity to save money on a new car if you qualify.

Rate Lockout Programs

Rate foreclosure programs typically come from car manufacturers when you buy a new vehicle that dealerships don’t have in stock. For example, eligible borrowers may be able to lock in a low APR rate, such as 0.9% or 1.9% on a custom-ordered car financed by a captive lender. Currently, automakers like Ford are offering frozen interest rates on certain vehicles, while luxury consumers can take advantage of this benefit with BMW.

To qualify for these programs, you probably need to have good credit. Most automakers that offer frozen interest rates require you to take delivery of the vehicle within a certain timeframe, typically 60 to 90 days. However, since current models take longer to enter showrooms and consumers, some borrowers may wonder if their frozen rates will be maintained.

In most cases the answer is yes, a rate lock should continue to remain in effect if the delay in delivering the vehicle is due to circumstances beyond your control. Some automakers that offer rate blocking may give qualifying consumers the choice of the blocked rate offer from the time they order or a future offer available at the time of delivery. However, these scenarios may not always be the case, so be sure to check with your dealer if your order is delayed.

Can I Qualify With Bad Credit?

If you’re a borrower with bad credit, getting into a rate foreclosure program or even qualifying to purchase a new vehicle can be difficult, but it’s not impossible. If you are having trouble qualifying for a car loan, remember that you will likely need more documents to get a loan than someone with better credit.

If you’re looking for a dealership who can approve you for a car loan but aren’t sure where to turn, Auto Express Credit wants to help. We have developed a nationwide network of special finance dealers who can help you in many difficult situations. Simply fill out our quick and free auto loan application form. There is never any obligation, so get started right away!


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EcoOnlin: Successful refinancing lowers interest rates and expands financing facilities https://sendika12.org/ecoonlin-successful-refinancing-lowers-interest-rates-and-expands-financing-facilities/ https://sendika12.org/ecoonlin-successful-refinancing-lowers-interest-rates-and-expands-financing-facilities/#respond Wed, 10 Nov 2021 14:43:04 +0000 https://sendika12.org/ecoonlin-successful-refinancing-lowers-interest-rates-and-expands-financing-facilities/ Oslo, 10 November 2021 | EcoOnline AS, a subsidiary of EcoOnline Holding AS ("EcoOnline" or "the Group"), has today entered into an agreement for the full refinancing of its current debt at highly improved terms through ESG linked notes. The agreement also includes additional committed financing facilities for the financing of potential future acquisitions. EcoOnline […]]]>
Oslo, 10 November 2021 | EcoOnline AS, a subsidiary of EcoOnline Holding AS
("EcoOnline" or "the Group"), has today entered into an agreement for the full
refinancing of its current debt at highly improved terms through ESG linked
notes. The agreement also includes additional committed financing facilities for
the financing of potential future acquisitions. 

EcoOnline has a solid cash position of NOK 413 million as of today and positive
cash flow from operations. The company has of today ~ NOK 350 million in
interest bearing debt in SEK notes from financing of previous acquisitions,
which is now being refinanced at favourable terms. In addition, new financing
facilities for potential further acquisitions are obtained, but no additional
debt is taken out at this point. 

The agreement has a total credit framework of EUR 150 million. The notes carry
an interest rate of 5.95%, which is in part linked to the performance by the
Group of its strategic ESG performance criteria. 

Of the EUR 150 million total framework amount, EUR 35.5 million will be used for
the full refinancing of EcoOnline's current outstanding senior secured SEK notes
that carries an interest rate of 9.5%, and an additional EUR 114.5 million will
be available for financing of future acquisitions.

The financing is provided by Ture Invest AB, the leading direct lending provider
in the Nordics and for software companies in Europe with ca. EUR 1 billion in
AUM.
The notes mature at the end of December 2025.

"EcoOnline has with this new debt frame both lowered interest costs
significantly and secured access to further financing of our growth journey
going forward. I am pleased with continuing our close cooperation with Ture
Invest, that has followed our development over last 3,5 years and that they
clearly with these renewed terms confirms our ESG contribution" says Göran
Lindö, CEO of EcoOnline.

"We have been working as a debt financing partner to EcoOnline since the
beginning of 2018 and are impressed by the organic growth generated complemented
by the strategic acquisitions executed. We look forward to continue to support
the company with financing of additional add-on acquisitions going forward.
Additionally, EcoOnline's clear focus on EHS fit our ESG criteria well and we
are pleased to offer a margin discount as the company develop its ESG goals"
says Martin Torell, Partner, Ture Invest.

The refinancing transaction is expected to close shortly.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

For more information please contact: 
Siw Ødegaard, CFO and Head of IR of EcoOnline  
Tel: + 47 95 75 98 48 
Email: siw.odegaard@ecoonline.com   
 
 

ABOUT ECOONLINE 
EcoOnline is a European EHSQ SaaS market leader dedicated to developing software
creating safer and more sustainable workplaces while ensuring compliance.
EcoOnline has offered a positive contribution to customers and society since its
inception and is a leader in the Nordics, UK and Ireland. The company has
experienced strong organic growth over the last years and has also a clear
history of successfully acquiring and integrating companies with the same level
of employee engagement as EcoOnline

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange


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