Debt Consolidation UK

The Bank of England’s recent interest rate cut could fuel inflation, according to the price comparison website fool.co.uk. The Bank’s decision was not unexpected, but with rising energy costs and high oil prices, the cut could push up inflation.
Fool.co.uk believes that the Monetary Policy Committee is willing to let inflation rise in order to avoid a recession. David Kuo, head of personal finance at fool said:
“Consumers should be aware of the damaging effects of inflation even if the Bank of England chooses to ignore it for now. In order to beat rising prices, we need to ensure that any savings we have will guarantee a better return.”Meanwhile, the Bank of England has predicted that demand for secured loans is set to rise in the first quarter of 2008 as lenders tighten up other credit products.

Couples spending Valentine’s Day abroad should be aware of hidden costs for card usage overseas.
Nationwide said that consumers lost more than £27 million in hidden charges last February.The building society advises that credit card users should avoid providers that charge foreign usage fees and, if cheaper, use a debit card where ever possible. Jeremy Wood, divisional director at Nationwide, said:
“Couples who are planning to go abroad for a romantic getaway this Valentine’s Day should be aware of the hidden charges that most card providers impose, which are both costly and unnecessary.”
Meanwhile, consumers are being advised to treat Dynamic Currency Conversion - where the cardholder is given the option to pay in sterling or local currency - with caution, as any conversion rate can be used by the retailer.