UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Indonesia Central Bank to Draft New Regulations After Expanded Economic Growth Mandate 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
NATO Albania Summit Faces Uncertainty as Trump, Defense Spending Concerns Loom 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Gold Price Drops to Eight-Month Low as Fed Rate Hike Bets Weigh on Bullion. Source: Photo by Michael Steinberg via Pexels 
ECB Set to Raise Interest Rates as Energy Shock Fuels Eurozone Inflation Concerns 
U.S. Stocks End Q2 Higher as Strong Jobs Data and AI Rally Lift Wall Street 
Yen Falls to 40-Year Low as Markets Watch Japan Intervention and U.S. Jobs Report 
British savers will soon benefit from significantly stronger financial protection after the Bank of England announced a major increase to the nation’s deposit guarantee limit. The Prudential Regulation Authority (PRA) confirmed that the Financial Services Compensation Scheme (FSCS) cap will rise from £85,000 to £120,000 per eligible depositor, a 40% jump designed to reflect the impact of sustained inflation and ensure consumer confidence in the banking system.
The previous £85,000 threshold had been in place since 2017, but economic conditions and rising living costs prompted regulators to consider a more substantial adjustment. While the PRA initially proposed an increase to £110,000, it ultimately concluded that a higher limit would better protect savers in the event of a bank or building society failure. PRA Chief Executive Sam Woods noted that the move aims to maintain public trust in the safety and stability of customer deposits across the UK’s financial institutions.
The new UK deposit protection limit surpasses the European Union’s standardized guarantee of €100,000 (approximately £86,000), highlighting the UK's stronger approach to financial safeguards post-Brexit. However, it remains below the coverage provided in the United States, where deposit insurance typically extends to at least $250,000 per depositor.
In addition to the general protection increase, the PRA announced a rise in coverage for temporary high balances—such as funds from a property sale, inheritance, or insurance payout. These temporary balances will now be safeguarded up to £1.4 million, up from the previous £1 million limit, offering further reassurance to individuals experiencing major financial transactions.
The FSCS, funded by the financial services industry, plays a crucial role in protecting customers when banks or building societies collapse. With these updated thresholds, UK regulators aim to enhance financial resilience, support consumer trust, and ensure the nation’s deposit protection framework keeps pace with economic realities.
