#interest-rates

#interest-rates

The dollar's stability is bolstered by positive trade developments, including potential tariff agreements between the US and Europe, which ease uncertainty in the market.

Nearly one in five (18%) of accounts include a bonus rate of 1.88% for nearly a year on average. Nearly half (44%) restrict the number of withdrawals, while 28% impose interest penalties for too many withdrawals and 16% have restrictions such as a high minimum balance or requiring customers to have a current account with them.

Recent reports suggested that Treasury Secretary Scott Bessent attempted to dissuade President Trump from firing Chair Jerome Powell. Concerns around central bank independence could continue to weigh on the currency, while the current political pressure could undermine the institution's credibility.

The demand for home loans took a tumble after three consecutive weeks of increases, with mortgage applications decreased 10% for the week ending July 11, 2025.

The Insolvency Service reported 2,043 company insolvencies in England and Wales in June 2025, an 8% drop from May 2025 and a 16% decline from June 2024.

The UK unemployment rate rose to 4.7% in May, a four-year high, surprising economists and reinforcing concerns over a slowing economy.

The year-on-year inflation in the UK rose to 3.6% in June, a reminder that the battle against inflation is far from over for many households.