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Base rate stays at four per cent

The Monetary Policy Committee voted today to keep the base rate at four per cent for another month.

Charcol senior technical manager Ray Boulger says: “Whilst the housing market shows no sign of a downturn, the Bank of England is likely to have viewed February&#39s reported sharp rise in house prices as a one-off, hence no knee jerk reaction this time around. Inflation is still well below its two per cent target, so there was no real immediate pressure for the committee to quell.

“In short the MPC has decided to wait and see what the initial effect of last month&#39s rate rise will be on the economy before deciding on any further action.”


Software helps IFAs cope with commission changes

Electronic commission specialist CBoxx has launched its Business Profiler software, the first of a four-step approach to handling all elements of commission and fee income for big IFAs. It is also rolling out an income-forecasting package to allow advisers to check the remuneration they expect to receive against actual payments. CBoxx believes its software will […]

Legal & General cleans up in protection awards

Legal & General has cemented its position as a favourite in the protection market, winning awards for best overall provider, best service provider and best e-commerce provider at the inaugural LifeSearch Protection Awards. The awards, held last week, are aimed at providing recognition of protection providers&#39 new business and underwriting teams from an IFA perspective. […]

O&#39Leary to lead Marlborough Stirling

Software and services provider Marlborough Stirling is appointing Mike O&#39Leary as chief executive, leaving Huw Evans to revert to his previous role of chairman after holding the post since Graham Coxell stepped down a year ago. O&#39Leary was at Misys from 1996 to 2000, holding the role of chief executive of its financial services division […]

Aberdeen to contest watchdog ruling

Aberdeen Asset Management plans to appeal against a provisional Financial Ombudsman Service judgement which could force it to pay compensation to thousands of investors. The FOS adjudicator has ruled in a lead case that an investor in AAM&#39s progressive growth unit trust &#45 which invested in split caps &#45 is entitled to compensation. But AAM […]


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