View more on these topics

Bank of England cuts rate by 0.25 per cent

The Bank of England has again cut the UK base rate by 0.25 per cent to 4.5 per cent, bringing interest rates down to their lowest level since 1964.

This comes two weeks after the unscheduled interest rate cut following the terrorist attack on New York, also of 0.25 per cent.

The Bank of England says the consequences for the world economy of the terrorist attacks are still unclear, but that the early indications are the impact on the UK economy will be less severe than in the US.

A spokesman for HSBC says when the two cuts come into effect on October 17, their mortgage will be 5.25 per cent, and 5 per cent for customers with mortgages over £250,000.

Recommended

Multi-ties a done deal, claims Bankhall chief

Scrapping polarisation and introducing multi-ties is a done deal, according to Bank-hall, which claims to be better prepared than traditional networks for the new regime.Speaking at Bankhall Inv-estment Associates&#39 annual convention in Monte Carlo, Monaco last week, IFA support services group director Paul Hogarth said the advent of multi-ties is a question of when rather […]

The lost resort

As the Liberal Democrats assembled for their annual love-in last week in Bournemouth, international events proved much more important than slating the Tories for once and delegates adopted an appropriately serious tone throughout the week.Security was noticeably heightened, with ladies in bright yellow shirts searching people&#39s bags.The scheduled events were thrown into disarray as an […]

Schroders says IFAs should show comparable products

Schroders has suggested that IFAs should be required to provide clients with a minimum number of comparable products, when recommending investments.The comments come as part of Schroders’ response to the Sandler review, which supports the maintenance of a strong independent advice market, but also advocates a degree of greater regulation in the IFA market.Schroders also […]

Berkeley Morgan launches IFA services business

IFA and financial and insurance services provider Berkeley Morgan has launched Berkeley Morgan Xchange, offering intermediaries a programme of compliance, training, agency negotiation, branded websites, IT, design and PR.The new service also provides corporate advice for companies looking for capital to grow their business or considering market listing.Berkeley Morgan will get fee income from the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment