News

UK consumer car finance market down 2% in October 2024: FLA

Consumer car finance new business volumes fell in October 2024 by 2% compared with the same month in 2023, according to figures released by the Finance & Leasing Association (FLA). The corresponding value of new business fell by 1% over the same period. In the ten months to October 2024, new business was 1% lower…

Chinese leaders pledge 'moderately loose' monetary policy, more support for slowing economy

China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy, while Premier Li Qiang swiped at threats of higher tariffs on Chinese exports, saying they hinder global growth. Shares in Hong Kong jumped Monday after state media released a report on the meeting by the ruling Communist Party’s Politburo that said leaders would “implement more active fiscal policies and moderately loose monetary policies.” The shift to “moderately loose” from the “prudent” monetary policies of the past 14 years was taken as a significant shift by market players, unleashing a spate of buying that pushed the Hang Seng index up 2.8%.