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Money Markets

As we are conscious of the need for you to extract the most value from your cash resources, Ulster Bank Capital Markets offers you a range of deposit options. Your Deposits are supported by Ulster Bank Groups' own financial strength. Ulster Bank continues to have the backing of our parent Royal Bank of Scotland, and their continuing support from the UK Government.
Deposits can be placed from over-night to one year, and non-standard, or indeed longer term periods are available. Minimum principal amounts of €1million or £1million, apply. Terms and Conditions apply.
Our Products Trading Entities
Term Deposits, Certificates of Deposit & Repos: Ulster Bank Ireland Ltd., Ulster Bank Ltd.
Commercial Paper: Ulster Bank Finance PLC
A2      BBB+

F1      A-

P2      Baa2
Last change to UB ratings was 22-06-2012

Our Economist

The pound declines to a one-month low against the euro after weaker UK data & BOE minutes

The main focus of the European morning session was on the UK and GBP. The Bank of England preserved their 6-3 vote on QE. This was perhaps a more dovish outcome than expectations given that the market had seen the risk of 1 or 2 members switching to a less dovish stance on QE after the slightly more upbeat tone in the Inflation Report. Overall the minutes were broadly in line with the Inflation Report. UK retail sales data were very weak in April at -1.4% versus 0.1% expected. Although this is a volatile series, it does highlight that with employment softening, wage growth weak, saving rates rising, borrowing subdued and price inflation high, it seems unlikely that private consumption is set to drive a recovery in the UK. With the MPC vote on QE and after the recent softer CPI data this week many market participants foresee a lower hurdle for more QE which may play out negative for GBP.

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