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Bank rate could stay at 0.5% to 2014

The Bank of England has held bank rate at 0.5 per cent for the 33rd month.

At its meeting last week, the monetary policy committee voted to keep the quantitative easing programme at £275bn.

It was widely expected it would avoid changes while the European Union debt summit was held last week.

IHS Global Insight chief British and European economist Howard Archer says: “Latest data and survey evidence are likely to have largely fuelled its belief that more QE will be required.”

John Charcol senior technical manager Ray Boulger says it looks increasingly likely that bank rate will stay at 0.5 per cent until 2014.

He says: “With rates for the best lifetime trackers only slightly higher than those for a two-year tracker, plus some of the best lifetime trackers having no early repayment charges, there seems little value in most two-year trackers.”


Multi-manager View

With cash generating poor rewards, especially in real terms, many investors are looking to equity income for returns – and many multi-managers too. Dividend income may not be as exciting as capital growth, but boring should not be underestimated. The Barclays Equity Gilt Study demonstrates that £100 invested in 1899 would, by the start of […]

Threadneedle’s Podger replaces Korhonen at Fidelity

Threadneedle head of global equities Jeremy Podger is set to replace Jorma Korhonen as manager of the £1.5bn Fidelity global special situations fund. Podger will join Fidelity in March from Threadneedle, where he managed the global select and global extended alpha funds. He will report to Fidelity global chief investment officer for equities Dominic Rossi […]

Friends Life hires LV= fixed income team

Friends Life has made its first hires for its recently-launched asset management business with the appointment of the former LV= fixed income team. The new hires at Friends Life Investments, which is due for launch in the second half of 2012, will oversee its fixed income portfolios. The team, led by Michael Wright, includes John […]


Fund managers expecting 2012 volatility, finds AIC poll

An “overwhelming” majority of fund mangers expect increased volatility to persist into 2012, according to research by the Association of Investment Companies . The trade body’s annual fund manager poll shows 96 per cent of respondents anticipate continued volatility in the coming 12 months. However, 71 per cent of fund managers still expect the markets […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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