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Bank of England resists rate cut call

The Bank of England has resisted calls from business and trade unions for a cut in interest rates, maintaining the rate at six per cent at today&#39s monetary policy committee meeting.

Most economists expected the rate to remain the same in the light of recent consumer credit figures and mortgage approvals which remain buoyant. The business community had hoped that the Bank of England would follow the US Federal Reserve&#39s 0.5 per cent cut earlier this month.

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Clerical Medical offshore and international business

Clerical Medical has announced that its business derived from offshore and international sources now exceeds £5bn in assets under management. The increase has been rapid with the £5bn mark being reached only 10 months after £4bn was achieved. Clerical Medical and its subsidiaries&#39 total assets under management now stand at over £29bn. Clerical Medical international […]

Loan advisers have high hopes

Mortgage advisers have high hopes for this year, forecasting an increase in business of 3.5 per cent for the first quarter, according to the Paragon Mortgages&#39 Fact index published this week. This follows a fall in confidence during the final quarter of last year. General confidence levels dropped to 104.4 per cent from 106 per […]

Scottish Friendly Assurance with profits bond stays at six per cent

Scottish Friendly Assurance is launching its growth and security with profits bond for 2001 with a bonus rate of 6 per cent, guaranteed until January 2002. This is the same bonus rate which applied to the bond in 2000. With a minimum initial investment of £3,000, single investments over £10,000 in the bond receive an […]

&#39There is no secret agenda&#39

Last week, the FSA published, Reforming Polarisation: First Steps, which sets out for comment some proposed changes to the polarisation regime. There are no surprises in the changes put forward bec ause they were described last November when it was ann ounced in the pre-Budget report that the Treasury had accepted the FSA&#39s advice on […]

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