It looks like interest rates are not set to rise for a while yet after the latest member to join the Bank of England’s MPC (Monetary Policy Committee), David Miles, announced that, according to his judgement, it was still too early to consider putting interest rates up. The MPC is responsible for setting interest rates, and Miles joined just over a year ago. He confirmed that there ...

21 new ATMs have just been launched across the country that will only give out £5 notes, whatever amount is being withdrawn. The argument for the introduction of the cash machines is a serious one. There is evidence that easier access to cash, especially smaller denominations, helps people to budget better. With smaller denominations, people won’t be forced to take out more ...

The Chancellor of the Exchequer, George Osborne's, announcement of a VAT increase from 17% to 20% from 4 January 2011 has brought about fears of a double dip recession. The increase is expected to reduce the amount of money the coalition government will have to borrow by generating approximately £13 billion a year. However, there are concerns that it could cause a rise in infl...

If you are a UK resident planning on attending the 2012 Olympic Games you had better make sure you have a Visa debit or credit card. Visa are sponsors of the Olympic and Paralympic Games and part of the deal struck with the organisers is that no other card will be accepted. In addition, Visa will be the only type of card accepted at ...

The Bank of England has decided to keep interest rates at 0.5%, meaning the rate has now been kept at this historic low for 15 consecutive months. The last time that the interest rate was changed was in March 2009. The MPC (Monetary Policy Committee) at the Bank of England is responsible for changing the base interest rates. It is thought that it will wait until the emergency budget i...