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IG Group has announced an attractive 8.5% AER variable interest rate on cash for new UK customers, effective until August 31, significantly surpassing the Bank of England's base rate of 4.25%. This offer applies to ISA, SIPP, and General Investment Account products for those who invest before May 31. Existing customers can also benefit if they meet specific criteria, positioning IG as a competitive player in the current market.
UniCredit Spa has received approval from the European Central Bank to initiate the second tranche of its 2024 share buyback program, valued at EUR3.6 billion. This brings the total shareholder distribution for the year to EUR9 billion, with no impact on capital due to organic capital generation. The buyback will commence after the completion of the Banco BPM offer, contingent on market conditions.
Lost banknotes from the 1970s are set to provide Switzerland with a significant financial boost, totaling 890.6 million francs ($1.1 billion) to be distributed among cantons and the government. This payout comes from notes that were never exchanged after the Swiss National Bank ended the sixth series of franc bills in 2000. A portion of the funds will support a natural disaster fund, while the rest will benefit federal and cantonal budgets, with smaller cantons like Uri planning to use the windfall to offset lower revenues from state-run power plants.
The Fed Chair highlighted increased risks to both unemployment and inflation, with expectations for a 0.3% rise in headline inflation for May. Meanwhile, Australia's job growth fell short of expectations, prompting speculation of a potential rate cut by the RBA. Japan's economy is projected to contract by 0.2% in Q1 2025, driven by a negative trade balance amid rising imports. Consumer sentiment in the US continues to decline, reflecting trade policy uncertainties, although a slight rebound is anticipated for May.
Japan's economy is projected to contract by 0.1% in the first quarter of 2024, following a 0.6% growth in the previous quarter. While private consumption is expected to rise due to strong household spending and foreign tourism, weak external demand and increased imports may hinder overall growth. This sluggish performance is likely to keep the Bank of Japan from adjusting its rate-hike cycle for the time being.
Raiffeisen has revised its GDP growth forecast for the Swiss economy in 2025 down to 0.9% from 1.3%, citing global trade disputes and the strengthening franc. For 2026, the growth is projected at 1.0%. Inflation estimates remain at 0.2% for the current year and 0.5% for the next, while the Swiss National Bank may lower the guide rate to 0% in June, with negative interest rates possible due to customs barriers.
Bitcoin has surged past the $100,000 mark, fueled by optimism over a potential easing in the customs dispute, with investors eyeing the all-time high of approximately $109,400. The Federal Reserve has maintained its interest rate band, while Trump continues to criticize Powell for not cutting rates, which may benefit riskier assets like Bitcoin.
Raiffeisen economists have revised their GDP growth forecast for Switzerland in 2025 down to 0.9%, citing the impact of US tariffs and a stronger Swiss franc. The forecast for 2026 is set at 1.0%. The Swiss National Bank is expected to lower its key interest rate to zero amid rising economic risks and low inflation, with inflation predictions remaining at 0.2% for 2025 and 0.5% for 2026.
The US Federal Reserve has maintained its key interest rate at 4.25 to 4.50 percent, indicating no urgency for changes amid rising economic uncertainty. With inflation data on the horizon, the Fed is cautious, noting increased risks of higher unemployment and inflation. Meanwhile, trade tensions continue as tariffs are imposed, and talks between the US and China are set to occur in Geneva.
The GBP/USD rally is losing momentum near key resistance levels of 1.3430–1.3500, with the daily MACD indicating a downturn. Support at 1.3230 is critical; a breach could lead to a decline towards the March highs of 1.3070/1.3010, while overcoming 1.3500 is essential for a sustained uptrend.
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ig group offers market leading 8.5 percent interest for new uk customers
10:24 09.05.2025
ECB approves UniCredit's 3.6 billion euro share buyback program tranche
09:24 09.05.2025
swiss government receives 1.1 billion from unclaimed banknotes windfall
09:10 09.05.2025
economic outlook shows rising risks for inflation and unemployment across markets
07:05 09.05.2025
Japan's economy expected to contract as Bank of Japan holds rates
02:00 09.05.2025
Raiffeisen revises Swiss GDP growth forecast amid trade disputes and currency strength
20:00 08.05.2025
Bitcoin surpasses 100000 dollars as investors eye new record high
18:05 08.05.2025
raiffeisen economists revise swiss gdp growth forecast for 2025 downward
16:36 08.05.2025
Fed maintains interest rates as inflation data looms amid economic uncertainty
12:59 08.05.2025
GBP/USD rally shows signs of fatigue near key resistance levels
11:59 08.05.2025
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