interest rates
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Finance 2 FebBank of England raises interest rate to highest level since 2008
The Bank of England has raised interest rates by 5ppts to 4% – their highest level since October 2008.
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Market Insight 20 JanBank of England governor predicts ‘weak activity over quite a prolonged period’
Bank of England governor Andrew Bailey has said the UK is likely to experience “weak activity over quite a prolonged period” despite optimism prompted by falling inflation and lower energy prices.
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Opinion 19 JanAgile approach needed as new car orders ‘drop off a cliff’, opinion
After the “pressure cooker” of the post-pandemic automotive retail sector, MotoVise managing director Fraser Brown says car dealers need to ensure 2023 is a year of opportunity rather than excuses.
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Finance 24 NovIs a ‘happy accident’ keeping motor finance from blowing up?
The automotive retail sector’s supply issues and buoyant used car residual values have been described as a “happy accident” preventing the motor finance sector from “blowing up”.
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Car Dealer News 15 NovUsed car dealers’ pessimism swells amid stock shortages and consumer confidence
The number of used car retailers who describe themselves as “pessimistic” about the sector’s current fortunes has almost quadrupled in the space of just a month.
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Latest News 23 SepChancellor of the Exchequer announces £45bn of tax cuts in ‘mini’ budget
The Chancellor of the Exchequer Kwasi Kwarteng has announced £45 billion of tax cuts in a ‘mini’ budget set to cost the exchequer around £100bn.
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Latest News 22 Sep
Bank of England raises UK interest rate to 2.25% to stem inflation
The Bank of England has raised the UK interest rate by 0.5ppts to 2.25% in spite of Monetary Policy Committee (MPC) uncertainty over the best approach to stem inflation.
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Latest News 15 SepAutomotive sector braced for record interest rates rise
The automotive sector is braced for the impact of a record 0.75ppt rise in interest rates if the Bank of England acts to curb inflation next week.
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Finance 6 SepMotor finance lenders to tighten eligibility criteria
Motor finance providers are likely to tighten the criteria on which they base their lending, in order to minimise their risks during the cost of living crisis.
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Market Insight 16 AugCar retailers will have to tighten belts in winter of ‘stagflation’
Car retail businesses have been told to focus on gross profit and cutting expenditure as a period of ‘stagflation’ is ushered in by sustained inflation and rising unemployment.
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Used Cars 15 AugHolidays prioritised over car purchases ahead of UK's tough winter, says Cap HPI
Holidays in the sun are being prioritised above car purchases ahead of a tough winter which is expected to see the UK slide into recession amid ongoing inflation, Cap HPI's Derren Martin has suggested.
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Market Insight 4 Aug
Lengthy recession forecast as interest rates rise to 1.75%
The UK is set to slip into recession this winter as rising fuel and energy costs stymie economic growth, the Bank of England warned as raised interest rates by 0.5% today.
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Finance and insurance 14 JunKeeping car finance competitive amid BoE's rising interest rates
Car dealerships are facing a double whammy of rising overheads and diminishing consumer finances after the Bank of England (BoE) further increased interest rates this month to 1%.
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Market Insight 13 Apr
Car retail faces ‘perfect storm’ of headwinds as UK inflation hits 7%
The car retail sector is facing a “perfect storm” of economic and political headwinds as UK inflation hits 7% - threatening to dent consumer confidence.
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Latest News 16 Dec
Bank of England raises interest rate to 0.25% to tackle inflation
The Bank of England has raised interest rates for the first time in three years in a bid to tackle UK inflation.
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Market Insight 11 MarCoronavirus prompts Bank of England to cut interest rate to 0.25%
The Bank of England has cut interest rates back to a record low of 0.25% in response to the economic impact of the coronavirus.
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Opinion 1 JulFCA calls time on Buy Now Pay Later interest charges, guest opinion
The Financial Conduct Authority (FCA) recently announced forthcoming changes to what has been a controversial area of consumer credit lending.
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Market Insight 2 Aug
Bank of England delivers interest rate rise to 0.75%
The Bank of England has announced a rise in interest rates from 0.5% to 0.75% following a unanimous decision by its Monetary Policy Committee.
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Finance 14 DecDealers rethinking lending panels as ‘prime’ finance customers dwindle
Car dealers have started rethinking their lending panels as economic pressures start to spark a reduction in the number of customers meeting “prime lender criteria”.
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Market Insight 12 Dec
Inflation rises to six-year high of 3.1% in November
Inflation rose to a six-year high of 3.1% in November as retailers struggled against a squeeze on shoppers finances in the run-up to Christmas.
