Isle of Man bank Bradford & Bingley International has increased the interest rates paid on US Dollar and Euro accounts by 25 basis points with effect from 1 July 2006.
Top rates are now 4.85% for dollar deposits over US$200,000 and 4.65% for euro deposits over EUR200,000.
The increase in rates is in response to increases by the US Federal Reserve
Committee and the European Central
Bank to their variable tender rates by 0.25%. The next meeting of US Federal
Reserve Committee is scheduled for 8th August 2006 and the European Central
Bank next meets on the 3rd August 2006.
John Sheath, Managing Director adds "It is great news for savers that
interest rates have been increased and we are pleased to pass on the full increase
to our customers."
Bradford & Bingley International Limited is licensed by the Isle of Man
Financial Supervision Commission to conduct banking business and is a wholly
owned subsidiary of Bradford & Bingley plc.
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