View more on these topics

Bank of England cuts base rate by 0.25 per cent

The Bank of England monetary policy committee today cut its base rate by 0.25 per cent to 5.75 per cent.

The cut was widely expected in the light of fears of recession in the US economy. The US Federal Reserve has made two 0.5 per cent cuts in its rate, now 5.5 per cent, since the New Year.

Both Abbey National and HSBC cut their standard variable rates by 0.25 per cent to 7.49 per cent and 6.5 per cent respectively. Britannia Building Society cut its SVR by 0.25 per cent to 7.39 per cent.

Recommended

Nothing ventured…

Since venture capital trusts were launched in autumn 1995, they have proved to be a success. By the end of 2000, a total of £1.1bn had been raised by around 50 VCTs. Estimates for last year show that about one in eight new companies backed by venture capital has a VCT as a corporate shareholder. […]

Will the Tessa holders branch out?

Fidelity is taking a stand against IFAs which rebate trail commission to their clients. Do you agree with the move or should it be up to the individual adviser whether to rebate commission? AA: Giving up income should be up to the individual adviser but I do think the trail arrangement is a good way […]

Stress sees Staffordshire chief exec Page quit

Staffordshire Building Society chief executive Keith Page has left the society by mutual consent after six years. The society says an agreement was reached last week between Page and the board that he should step down both as chief executive and as a director. Staffordshire says Page has left the society to spend more time […]

Rod Macdonald

The following sentence is a summary of the type of sentiment being expressed by many industry commentators at present: “The protection market is set to be the major beneficiary from problems in other parts of the industry – endowment mortgages, stakeholder pensions, plus unit-linked and with-profits investment returns headed in the same direction as Peter […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com