The International Monetary Fund has warned central banks to be alert to potentially damaging side-effects of ultra-low interest rates and “unconventional” measures to boost growth after the deep slump of 2008-09.
While backing the use of exceptional action to prevent the collapse of the financial system, the Washington-based organisation said risks would increase the longer the stimulus was kept in place.
The IMF used a chapter in its latest global financial stability report to note that rock-bottom interest rates and purchases of government bonds might be shifting instability from banks to other parts of the financial system or to other parts of the global economy.
BVI not responsible for leak of sensitive financial information – gov’t BVI News
A response to the International Consortium of Investigative Journalists (ICIJ) offshore financial secrecy project. The BVI in full head-in-the-sand denial mode.
France: Cahuzac Swiss bank account scandal threatens Hollande’s presidency BBC See also:
Ex-minister lets Swiss pass bank data to France swissinfo
As Banks in Cyprus Falter, Other Tax Havens Step In New York Times
Cyprus Considers Corporate Tax Break To Retain Business Tax-News
Australia to force multinationals to disclose tax arrangements The Guardian
Afghans warned: the taxman is coming after you Reuters
UK MPs Criticise Pakistani Tax Avoidance In Aid Row Tax-News
‘Secrecy-Cloaked Companies’: Deutsche Bank Criticized for Offshore Operations Der Spiegel
Barclays tax avoidance division generated £1bn a year – Salz review The Guardian
Money-Laundering Banks Still Get a Pass From U.S. Read more…
To aid in the stabilization of the economy, the Federal Reserve has severely reduced the Federal Funds interest rate through 2015 to a paltry 0.00-0.25 percent unchanged since 2008. This number directly affects the interest rate you can earn on your savings account, as bank rates tend to follow this benchmark closely.
U.S. Average Savings Account Interest Rate
The interest rate that banks offer is their choice. Historically, online banks have offered their customers a higher interest rate because they have lower overhead costs due to the fact they do not have to pay rent on their local branches. Throughout the entire industry, however, the national average bank interest rate for savings accounts is only .21 percent.
Many moons ago, you could buy Presidential $1 dollar coins from the Mint using your credit card. This was a great way for card holder to basically get cash back or reward points for free. The only cost to you was that youd have all these dollar coins that youd have to spend or otherwise deposit back into your bank. Banks hated this. I purchased a batch so we could use them at our local bagel shop, farmers market, and other places where you could use credit. After doing this once, I realized how much of a pain it was and so when you couldnt buy the coins anymore, I wasnt that disappointed.
Well, it turns out theres another way to spend without really spending American Express gift cards. The downside to this strategy is that buying the cards comes with a fee.
Laramie Plains Federal Credit Union is still offering a competitive interest rate for their reward checking account which is called Ultimate Checking account. This money in the bank deal is tiered and it has the following current interest rates:
- 3.10% APY is earned on balance of $0 to $25,000 and all requirements are met
- 0.25% APY is earned on the portion of the balance above $25,000 and all requirements are met
- 0.05% APY is earned on your reward checking account if requirements are not met
This best checking account does not require any minimum balance to open an account, and it is available to all members of the credit union. In case you did not meet the monthly requirements, do not worry because there will be no penalty charged on the account.
Whenever we talk about trading, a lot of people automatically assume that you have to go big to earn more and be better. The comparison between an institutional trader and a private trader has often been studied to help determine who can be more profitable. For a person who has not been that exposed to the ins and outs of the stock market, it could be easier to conclude that you need to be backed up by a reputable institution for you to be able to trade properly. Is there truth to this concept? The Online Trading Academy attempts to find out if the private trader is at a disadvantage in the stock market.
A popular trader once said that “a trader cannot have an ego.” What exactly did he mean by this? It simply means that if you want to be successful at trading, then you are not allowed to feel too pompous about yourself and the things you do.
Sales of single family homes were strong in Edmonton in March – 750 homes sold through the MLS® system (down slightly from 766 last year). If there were more homes on the market, that showed well, I am certain this number would be higher. My stats show the inventory of single family homes on the market are the lowest we’ve seen in March since at least 2009 (unfortunately I didn’t start tracking this stat until 2009 but I suspect this is the lowest level since 2007).
Condos sales were up from last year – 365 condos sold in Edmonton in March compared to 319 last year. When we see upward pressure on single family home prices and demand, condo sales tend to improve as buyers seek more affordable options.
The average price for single family homes sold in Edmonton in March was $405,779 (up from $389k last year and $393k last month) – the highest average price we’ve seen since October 2007, putting us close to peak prices.