Libor

Regulators in the UK, US and Japan will widen their probe into Libor fixing in the banking sector to include more than 15 banks, according to insiders.

RBS chief executive Stephen Hester has told MPs he considers his remuneration package to be low by industry standards.

UBS is being investigated by US regulators for allegedly manipulating Libor, the rate at which banks lend to each other.

Britain is at risk of sliding into a Japan-style period of deflation, according to a Bank of England policymaker.

Low interest rates mean a quarter of UK homeowners are at least £200 a month better off today than they were this time last year, according to the Bank of England (BoE).

There is growing fear of inflation in the UK and US markets as shown by increasing demand for government securities offering protection from rising prices, reports the Financial Times.

The average shelf-life of a mortgage product fell to 14 days in June, almost half the amount of time they were available in the previous month, according to the latest monthly Moneyfacts Treasury Report on UK Mortgage Trends.

Further enhancements to the current system for producing, checking and verifying LIBOR have been announced today by the British Bankers' Association (BBA).

The cost of inter-bank lending has decreased markedly in reaction to the Bank of England's base rate cut, falling by over 1% today.

Inter-bank lending rates have hit their highest point for more than seven years last night despite intervention from central banks, according to the British Bankers' Association (BBA).