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Bank of England chief economist to head OFT

Bank of England chief economist John Vickers is to be made the next director general of the Office of Fair Trading.

He will succeed John Bridgeman who completes his term at the end of September. Bridgeman has held the position, at the as the consumer watchdog, for five years.

Vickers&#39 CV is an impressive one. He has had posts at Oxford, Princeton, Harvard and the London Business School. He joined the Bank in 1998.

He is a member of the prestigious monetary policy committee, which determines the national rate of interest each month. Vickers is viewed as being one of the so-called “hawks” of the committee, wanting to raise the rate to force sterling down.

Vickers has been chosen from a list of 66 candidates.

Secretary of state for trade and industry Stephen Byers says: “To attract an individual of his standing to this post is a demonstration of the importance of the position.”


Four-step approach to emulate wizards of Oz

With the potential for a further eight million new customers as a resultof the Gov- ernment&#39s announcement on concurrence, more and more adviserscan visualise the need to advise the generic public as opposed toconcentrating efforts on targeted clients.It is hard to compromise your professional image, and ultimately lifeline,by turning clients away. Many clients do not […]

Pink Home Loans – 6.99 Per Cent Fixed For 3 Years Buy To Let

Tuesday, 7th November 2000.Fixed term: Three years.Fixed rate: 6.99 per cent.Minimum loan: £40,000.Maximum loan: Up to 80 per cent of valuation subject to a maximum of £1 million.Income multiples: Rental yield must be at least equal to 130 per cent of monthly payment. Minimum income of £20,000, or £30,000 for joint applicants.Arrangement fee: 1 per […]

Court to rule against Equitable Life

The Law Lords are expected to rule against Equitable Life in a landmark court case which could shake up the insurance industry. The court will likely say the life office can not offer different interest rates to customers purchasing the same pension from the company. The two year old controversy has arisen from a dispute […]

Woolwich – Open Plan 3.55 Per Cent Discount For 2 Years

Tuesday, 7th November 2000.Type: Discounted-rate flexible mortgage.Discounted term: Two years.Discount: 3.55 per cent.Payable rate: 4.2 per cent.Minimum loan: £1,000.Maximum loan: Up to 95 per cent of valuation subject to no maximum.Income multiples: 3.25 times principal income plus second or 2.5 times joint.Features: Underpayments, overpayments, payment holidays, lump sum withdrawals, interest calculated daily.Arrangement fee: £195.Redemption fee: […]


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