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Flagstone Weekly Credit Update 16 October 2017

Economic Headlines The Governor of the Bank of England repeats imminent interest rate rise message Mark Carney, the Governor of the Bank of England (BoE) has confirmed that UK interest rates will probably rise in the coming months with markets expecting […]

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Flagstone Weekly Credit Update 9 October 2017

Economic Headlines UK service sector recovery fuels expectations of a November interest rate rise The latest IHS Markit/CIPS purchasing managers’ index (PMI) survey for UK services indicates that activity in the services sector picked up slightly in September. The index rose […]

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Flagstone Weekly Credit Update 2 October 2017

Economic Headlines Surprise downward revision in annual growth rate for second quarter The latest official figures from the Office for National Statistics (ONS) indicates that the UK economy grew at its slowest annual pace since 2013 in the three months to […]

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Flagstone Weekly Credit Update 25 September 2017

Economic Headlines Moody’s downgraded UK’s sovereign credit rating Moody’s has downgraded the UK sovereign credit rating to Aa2 from Aa1, citing concerns about the UK’s public finances and fears that Brexit could damage the country’s economic growth. Moody’s also changed the […]

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Flagstone Weekly Credit Update 18 September 2017

  Economic Headlines Is an early rate rise likely or are MPC members crying ‘wolf’ again? The UK FTSE 100 fell after investors interpreted the outcome of last week’s Monetary Policy Committee (MPC) meeting as a clear sign that interest rates […]

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Flagstone Weekly Credit Update 11 September 2017

  Economic Headlines Official figures indicate that UK manufacturing rose in July The Office for National Statistics (ONS) have reported that the UK manufacturing sector grew in July at its fastest pace this year although the trade deficit widened and construction […]

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Flagstone Weekly Credit Update 4 September 2017

  Economic Headlines MPC member suggests Brexit slowdown could be just an illusion The slowdown in the UK economy since last year’s EU referendum result could turn out to be illusory, according to a member of the Bank of England’s Monetary […]

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Flagstone Weekly Credit Update 29 August 2017

  Economic Headlines OBR warns of interest rate threat to public borrowing costs The Office for Budget Responsibility (OBR) has warned that the UK’s deficit and national debt could run out of control if there is a sudden rise in interest […]

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Flagstone Weekly Credit Update Monday 21 August 2017

  Economic Headlines UK consumers restrict spending to bare essentials Official figures from the Office for National Statistics (ONS) for July indicate that UK consumers are restricting spending on all but the most essential items, buying less of almost everything except […]

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Flagstone Weekly Credit Update Monday 14 August 2017

  Economic Headlines 10 years since the start of the global financial crisis It is now 10 years this month since BNP Paribas froze activity on three mutual funds that invested primarily in US mortgage backed securities. The funds had experienced […]

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Flagstone Weekly Update 8 August 201

  Economic Headlines Warning that future UK interest rate rises may be higher than markets expect Bank of England Deputy Governor, Ben Broadbent, has warned that UK interest rates may have to go up in the future by more than the […]

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Flagstone Bank Credit Update 31 July 2017

  Economic Headlines UK economic growth rate edges slightly higher The Office for National Statistics (ONS) has reported that gross domestic product (GDP) growth in the UK economy edged slightly higher in the second quarter of 2017, when compared with the […]

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Flagstone Bank Credit Update Monday 24 July 2017

  Economic Headlines IMF predicts UK to expand more slowly in 2017 The International Monetary Fund (IMF) has predicted that the UK economy will expand more slowly in 2017. It believes that weaker than expected activity in the first three months […]

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Flagstone Bank Credit Update Tuesday 18 July 2017

  Economic Headlines UK at risk of sovereign rating downgrade if Government abandons austerity measures Economists have warned that the UK’s sovereign credit ratings could be downgraded further if the government chooses to loosen or abandon its austerity measures and significantly […]

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Flagstone Bank Credit Update Tuesday 11 July 2017

  UK Headlines Analysts cut Q2 growth forecast for the UK on the release of disappointing official figures After the release of three sets of disappointing official figures for May, it appears that the UK economy is faltering. As such, analysts […]

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Flagstone Bank Credit Update 03 July 2017

  UK Headlines UK falls to bottom of economic growth league The Office for National Statistics (ONS) has confirmed that the UK economy grew by a disappointing 0.2% in the first three months of this year. This makes the UK the […]

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Flagstone Bank Credit Update 26 June 2017

  UK Headlines UK Chancellor promises to prioritise business over migration controls The UK Chancellor, Philip Hammond, in his Mansion House speech has promised to prioritise business over migration controls which analysts believe could suggest that a new ‘softer’ tone may be […]

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Flagstone Bank Credit Update 19 June 2017

Monthly Headlines: Moody’s has warned that the UK’s sovereign credit rating could be downgraded after the UK general election delivered a hung parliament which could slow the drive to reduce the UK budget deficit. Although the MPC voted to leave […]

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Flagstone Bank Credit Update 12 June 2017

Weekly Headlines: Analysts caution that the new minority Conservative government faces tough challenges as it begins the complex task of negotiating Brexit over the next two years which may include relaxing its grip on spending. The OECD has predicted in its latest […]

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05/06/2017 Flagstone Bank Credit Update 5 June 2017

Monthly Headlines: The latest Markit/CIPS construction purchasing managers’ index (PMI) survey indicated that activity in the UK construction sector expanded at its fastest rate in 17 months in May, rising to 56.0 from 53.1 in April. The latest Markit/CIPS manufacturing […]

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Flagstone Bank Credit Update 30 May 2017

Monthly Headlines: Official figures from the ONS indicate that the UK economy grew more slowly than first estimated in the first three months of the year at 0.2% which was down from the original estimate of 0.3%. In contrast the […]

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Flagstone Bank Credit Update 22 May 2017

Monthly Headlines: The UK inflation rate, as measured by the Consumer Prices Index, rose last month to its highest level since September 2013 and now stands at 2.7%. The ONS has reported that the UK unemployment rate has fallen to 4.6% which […]

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Flagstone Bank Credit Update 15 May 2017

Monthly Headlines: The surprise UK general election called by the Conservatives and the French presidential elections have overshadowed the increased tension between President Trump and the North Korea leader. UK official gross domestic product (GDP) figures indicate that the UK […]

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Flagstone Bank Credit Update 8 May 2017

Weekly Headlines: Some analysts believe that the Bank of England is set to lower its growth forecasts after the UK economy faltered in the first quarter with financial markets pricing in a rise in Bank Rate to 0.5% in early […]

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Flagstone Bank Credit Update 2 May 2017

Weekly Headlines: Official figures from the Office for National Statistics indicate that the UK economy grew by just 0.3% (1.2% annualised) in the first quarter of 2017, the slowest rate of growth since the first three months of 2016. Economists believe […]

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Flagstone Bank Credit Update 24 April 2017

Weekly Headlines: ONS official figures this week are expected to show that growth in the UK economy has slowed in the first quarter with economists forecasting GDP growth of just 0.4%, the slowest rate of growth in a year. The […]

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Flagstone Bank Credit Update 18 April 2017

Monthly Headlines: Political tensions have risen to the fore this month while economic factors have taken a back seat due mainly to the actions of President Trump and the imminent French presidential elections. From an economic viewpoint things are more […]

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Flagstone Bank Credit Update 10 April 2017

Weekly Headlines: The latest batch of forward-looking indicators show signs that UK economic growth is losing momentum as the trade deficit widens and activity in the industrial and construction sectors falters. Some analysts are predicting growth of only 0.4% for the first […]

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Flagstone Bank Credit Update 3 April 2017

Weekly Headlines: The UK current account deficit has improved by the largest amount on record with the deficit dropped to £12.0bn in Q4-2016 which is less than half the £25.7bn reported in the previous quarter. The ONS has confirmed that […]

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Flagstone Bank Credit Update 27 March 2017

Weekly Headlines: Rising food and energy prices helped push last month’s CPI inflation rate to its highest level since September 2013 as it rose to 2.3% in February from 1.8% in January. The Bank of England expects inflation to peak […]

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Flagstone Bank Credit Update 20 March 2017

Weekly Headlines: A split over interest rate policy has emerged at the Bank of England for the first time in over a year as one MPC member voted for an immediate rise which analysts believe could signal an earlier rise […]

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Flagstone Bank Credit update 13 March 2017

Monthly Headlines: Various economic data appear to support the view that the UK economy is likely to slow down this year despite the ONS predicting that the UK economy is likely to grow by 2.0% (up from 1.4% previously). Analysts […]

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Flagstone Bank Credit update 27 February 2017

Weekly Headlines: The 2nd estimate of gross domestic product increased by 0.7% in the quarter, up from 0.6%, which appears to indicate that the UK economy grew by more than previously reported in the final three months of 2016. However […]

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Flagstone Bank Credit Update 20 February 2017

Weekly Headlines: Annual inflation, as measured by the Consumer Prices Index (CPI), reached 1.8% in January which was up from a rate of 1.6% in December, its highest rate for two-and-a-half years. UK wages grew by 2.6% in the three […]

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Monthly Bank Credit Update 13 February 2017

Monthly Headlines: The UK economy continues to enjoy a post-Brexit boost with stronger-than-expected industrial and manufacturing output in December while the country’s trade balance narrowed. Many economists thought the Bank of England was overly optimistic when it came out with a […]

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Flagstone Bank Credit Update 6 February 2017

Weekly Headlines: The Bank of England has increased its growth forecast for this year and now expects the economy to grow by 2.0% in 2017, up from a forecast of 1.4% in November 2016. The Bank of England has made […]

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Flagstone Bank Credit Update 30 Jan 2017

Headlines: The first estimate figure from the Office of National Statistics indicates that the UK economy grew faster than expected for the final quarter of last year by 0.6% and by 2.0% for 2016 as a whole. The influential EY […]

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Flagstone Bank Credit Update 23 January 2017

Headlines: The UK economy grew by 0.6% in the third quarter, according to the ONS on the third estimate which was a faster growth rate than the 0.50% reported for previous estimates. Analysts predict that the UK GDP growth rate […]

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Flagstone Bank Credit Update 17 January 2017

Headlines: The Prime Minister has today announced that the UK is seeking a ‘clean’ Brexit that sees the UK leaving the single market but has promised to create a strong new partnership with the European Union (EU). On Friday Donald […]

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Flagstone Bank Credit Update 9 January 2017

Headlines: A slew of encouraging Markit/CIPS services purchasing managers’ index (PMI) survey results covering the December period indicate possible GDP growth of 0.5% for the final quarter of 2016. The latest PMI index figures for December have continued to defy fears […]

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Flagstone Bank Credit Update 3 January 2016

Headlines: The UK’s manufacturing sector is enjoying one of the fastest rates of expansion in output in 25 years, with the IHS Markit PMI jumping to 56.1 in December which was up from 53.6 in November. Further PMI figures this […]

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Flagstone Bank Credit Update 19 December 2016

Weekly Headlines: As expected the U.S. Federal Open Market Committee raised the Federal interest rate last week to a range of between 0.50% and 0.75% and signalled a faster pace of increases in 2017. The latest CBI industrial trends survey […]

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Flagstone Bank Credit Update 12 December 2016

Monthly Headlines: After the surprising ‘positive’ turmoil resulting from the unexpected election of Donald Trump as the next U.S. president, a period of relative calm has returned to the financial markets. The financial markets have taken comfort from increasing signs that […]

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Flagstone Bank Credit Update 5 December 2016

Weekly Headlines: The building industry sector has continued its recovery after the vote to leave the EU with the IHS Markit/CIPS construction purchasing managers’ index edging up from 52.6 to 52.8. The U.S. faces the prospect of at least two interest […]

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Flagstone Bank Credit Update 28 November 2016

Weekly Headlines: The Office For Budget Responsibility (OBR) has forecast a £122bn deterioration in the public finances by 2020-21 of which they believe just under half (£59bn) is directly attributable to Brexit. The public sector debt forecast is predicted by the OBR […]

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Flagstone Bank Credit Update 21 November 2016

Weekly Headlines: Market attention will be firmly focussed this week on the Chancellor’s Autumn Statement for signs as to the future direction of travel for UK economic policy. The Chancellor is expected to announce some modest infrastructure spending and housing […]

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Flagstone Bank Credit Update 14 November 2016

Monthly Headlines: The unexpected election of Donald Trump as the next U.S. president is likely to usher in a period of change on a number of fronts. President-elect Trump comes from a business background and is seeking to cancel – […]

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Flagstone Bank Credit Update 7 November 2016

Weekly Headlines: The UK’s dominant services sector continues to gather momentum in October as it grew at the fastest rate since January but analysts warn that inflation pressures are beginning to build up in the economy. The stronger PMI reading […]

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Flagstone Bank Credit Update 31 October 2016

Weekly Headlines: UK economy confounds the fears of many analysts that it would be dragged into an immediate post Brexit recession with growth of 0.5% for Q3-2016 which was higher than the 0.3% expected. Analysts believe that the prospect of […]

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Flagstone Bank Credit Update 24 October 2016

Weekly Headlines: Analysts appear divided between those who believe that the Monetary Policy Committee will hold Bank Rate at 0.25% in November and those who forecast a cut to 0.10% may still happen then. The UK consumer price index rose to […]

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Flagstone Bank Credit Update 17 October 2016

Monthly Headlines: · After the implied “Hard-Brexit” message from the Prime Minister, Theresa May, at the Conservative Party Conference UK politics has taken centre-stage over the last two weeks. ·While to date economic data – both forward and backward looking […]

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Flagstone Bank Credit Update 10 October 2016

Weekly Headlines: • Disappointing figures from the industrial sector and a widening of the trade deficit have broken a run of good data for the UK economy since the vote to leave the European Union. • The UK’s trade deficit in goods […]

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Flagstone Bank Credit Update 3 October 2016

Weekly Headlines: • The prospect of another interest rate cut in the near-term appears to be receding amid signs that the economy has so far weathering the fallout from the vote to leave the European Union. • Investors are predicting that there […]

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Flagstone Bank Credit Update 26 September 2016

Weekly Headlines: • The OECD has backtracked on its warning that Brexit would damage the economy – upgrading its growth forecast for this year to 1.8% from 1.7% in June – but did cut the outlook for 2017 by half to […]

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Flagstone Bank Credit Update 19 September 2016

Weekly Headlines: • Although MPC members were unanimous in their decision last week to keep Bank Rate at its new record low of 0.25%, the MPC is still expected to cut interest rates to 0.10% later this year. • The UK inflation […]

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Flagstone Bank Credit Update 12 September 2016

Weekly Headlines: • The MPC holds its latest monthly meeting this Thursday against a backdrop of pending hard economic numbers that cover the post-Brexit period. • Economists have forecast that consumer prices will be 0.7% higher in August, compared with a year […]

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Flagstone Bank Credit Update 5 September 2016

Weekly Headlines: • A slew of encouraging UK economic surveys have resulted in many economists predicting that the UK may be able to avoid a recession this year. • The latest PMI index for the UK services industry rebounded strongly in August […]

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Flagstone Bank Credit Update 30 August 2016

Weekly Headlines: Expectations are beginning to grow that the Chancellor’s autumn reset of UK economic policy will include a sizeable fiscal stimulus in the form of additional infrastructure spending, or tax cuts, or both. The latest UK Treasury compilation of […]

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Flagstone Bank Credit Update 22 August 2016

Weekly Headlines: • The Bank of England will draw some comfort from signs that consumers took the initial shock of the Brexit vote in their stride • Last week’s first official data covering the post-referendum period has shown no immediate big hit […]

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Bank Credit Update 15 August 2016

Monthly Headlines: • Two months on from the historic Brexit decision to leave the European Union (EU) financial markets remain relatively calm, partly due to the European holiday period. • Both the ITRAXX Europe Senior Financials 5-year CDS Index and FTSE 350 […]

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Bank Credit Update 8 August 2016

Weekly Headlines: • City traders expect the Bank of England to reduce borrowing costs again from 0.25% before the end of the year while the financial markets are not predicting a return to the previous 0.50% level until 2021. • The Bank […]

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Bank Credit Update 1 August 2016

Weekly Headlines: • The Bank of England is expected this week to unveil a stimulus package to boost the economy, including a rate cut and a possible further round of money printing. • The UK economy grew faster than expected in the […]

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Bank Credit Update 25 July 2016

Weekly Headlines: • The latest Reuters monthly poll of economists predicts that the MPC will reduce the UK Base Rate to 0.25% in August and that it will not rise from that level again until the end of 2018. • The IMF […]

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Bank Credit Update 18 July 2016

Monthly Headlines: • Although the CDS market reacted to the Brexit decision, with the ITRAXX Europe Senior Financials 5-year CDS Index spiking to a level of 135bps, it has now returned to its pre-Brexit level of 96bps. • S&P and Fitch downgrading […]

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Bank Credit Update 11 July 2016

Weekly Headlines: The Bank of England is set to reduce interest rates this week to 0.25% as it battles to soften the perceived blow to the economy from the EU referendum result. Economists predict a restart of the money-printing quantitative […]

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Bank Credit Update 4 July 2016

Weekly Headlines: As a result of the Brexit referendum decision, the ratings agencies have downgraded the UK’s sovereign credit rating, adjudging that the vote to leave the European Union would hurt the UK economy. Moody’s has cut its outlook on […]

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Bank Credit Update 27 June 2016

Weekly Headlines: • The Bank of England (BoE) is likely to slash interest rates and even restart its money-printing programme to stimulate a slowing economy after the vote for Brexit. • The BoE may be pushed into more radical action such as […]

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Bank Credit Update 20 June 2016

Monthly Headlines: Analysts caution that there will continue to be significant volatility in global financial markets both in the run-up to the referendum – and afterwards, if the “Leave” camp were to win. During the last week the ITRAXX Europe […]

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Bank Credit Update 13 June 2016

Weekly Headlines: Financial markets are experiencing a severe bout of nervous anxiety and heightened volatility ahead of the referendum on the UK’s continued membership of the European Union (EU). The BoE could face overwhelming pressure to slash interest rates to […]

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Bank Credit Update 6 June 2016

Weekly Headlines: Mortgage interest rates have fallen to record lows as the Bank of England mulls over the possibility of an interest rate cut. The OECD has slashed its forecast for UK growth to 1.7% from 2.1% as it believes […]

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Bank Credit Update 31 May 2016

Weekly Headlines: A number of economic surveys to be published this week are expected to indicate that the UK economy is slowing down ahead of the EU referendum vote. Economists predict that GDP growth in the second quarter will be […]

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Bank Credit Update 23 May 2016

Weekly Headlines: The uncertainty caused by the EU referendum is underlined by the wide disparity between the forecasts of economists and those of the financial markets as to future UK interest rate movements. Economists’ view is for a first interest […]

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Bank Credit Update 16 May 2016

Monthly Headlines: The BoE quarterly inflation report states that the UK economy could slow sharply and possibly even enter a brief technical recession should the country vote for Brexit. Although the BoE expects an “In” vote, it has trimmed its […]

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Bank Credit Update 9 May 2016

Weekly Headlines: The Bank of England gives private warning to lenders of a possible rate cut as it prepares it latest inflation report to include Brexit risks to the economy. Some economists have called on the Bank of England to […]

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Bank Credit Update 4 May 2016

Weekly Headlines: UK economic GDP growth slowed in Q1-2016 to 0.4%, hit by a drop in manufacturing and construction output, down from 0.6% in the fourth quarter of last year. U.S. economic growth also slowed to its weakest pace in […]

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Bank Credit Update 25 April 2016

Weekly Headlines: Analysts predict that UK economic growth will fall to 0.4% in the first quarter of 2016, down from 0.6% in the final quarter of last year. The latest budget deficit figures released last week by the ONS indicate […]

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Bank Credit Update 19 April 2016

Monthly Headlines: The IMF has cut its growth projection for the UK this year from 2.2% to 1.9% which is more pessimistic than the 2.0% forecast by the OBR at the time of the March budget The IMF has also […]

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Bank Credit Update 11 April 2016

Weekly Headlines: Latest monthly Reuter’s poll predicts that base rate will stay at its current seven year low of 0.5% until early 2017 and then be raised only gradually over the next couple of years to reach 1.75% by 2018. […]

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Join our webinar: The Cash Management Platform Every Business Should Know About

Webinar date: Wednesday 13 April, 2016 Time: 11:00 am (GMT Summer Time) Details: If your company holds significant sums of cash on balance, a smart cash management solution is an absolute must to get the most from your asset. However, selecting which solution […]

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UK small businesses turn tables on banks

This article first appeared in the Financial Times | By: Andrew Bounds, Enterprise Editor, Financial Times Cash-rich small UK businesses are starting to turn the tables on banks by putting their deposits up for auction. Small and medium-sized businesses are holding […]

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Bank Credit Update 30 March 2016

Weekly Headlines: There was no major official economic data released for the U.K. over the last week. Although the U.S. economy grew faster than originally believed at the end of 2015 thanks to consumer spending, a plunge in corporate sector […]

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Bank Credit Update 21 March 2016

Weekly Headlines: The MPC voted unanimously to keep interest rates at 0.5% while the OBR downgraded its growth forecast for the UK economy this year from 2.4% to 2.0%. The OBR forecasts report published alongside the Budget implies that base […]

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Bank Credit Update 14 March 2016

Monthly Headlines: The financial markets appear to have settled down again after the upheaval of the previous month Europe Senior Financials 5-year CDS Index improved by 34%, falling to an average of 92bps The FTSE 350 Bank Index rose by […]

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Bank Credit Update 7th March 2016

Weekly Headlines BIS warns that the global economy is heading for a turbulent storm as confidence in policymakers recedes. No major UK economic data reported during last week. U.S. employment surged in February which could allow the Federal Reserve to […]

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SMEs miss out on over £40million in interest by leaving £161billion in bank accounts offering pitiful returns

This article appeared on and features comment from Flagstone’s Founder and Managing Partner, Andrew Thatcher. SMEs are missing out on at least £40 million a year in interest payments by leaving cash sitting in dusty old bank accounts. This amount […]

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Flagstone launches 100% FSCS-protected diversified 12-month cash deposit account paying 1.73%

Flagstone Investment Management, operator of the Astra cash management platform, today launched an innovative cash Diversified Deposit Account combining full FSCS protection with a market leading interest rate. The first account (with limited availability in July), is a 12 month […]

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Flagstone Investment Management to shake-up £2.1 trillion cash deposit market with new technology platform

Flagstone Investment Management is pledging to shake up the £2.1 trillion cash deposit market with a new online platform that is allowing wealth managers, charities, corporates and high net worth individuals to increase their interest income by providing instant access […]

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