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BoE votes to hold base rate at 0.5%

The Bank of England’s Monetary Policy Committee has voted once again to hold the base interest rate at 0.5 per cent.

It is the 70th consecutive month in which the benchmark interest rate has been held at its current level, the lowest on record.

Committee members also voted to maintain the programme of quantitative easing at £375bn. It has remained unchanged since July 2012, when the committee voted to increase the programme from £325bn.

Last month the Bank announced plans to reduce the number of MPC meetings from 12 to eight, as well as publishing the minutes from each meeting on the same day, from 2016.

Minutes from this month’s meeting will be published on 21 January.



Nationwide pushes Manchester Building Society to carry out financial review

The lenders that bailed out Manchester Building Society two years ago have hired investment bank Rothschild to carry out a review of its finances. The Sunday Times reports Rothschild has been brought in by Nationwide and the other lenders that supported the mutual when it was forced to raise £18m in April 2013. The Manchester […]


Majority to miss out on full new state pension

Fewer than half of people reaching retirement age in the first five years of the new state pension will receive the full amount, new analysis reveals. Just 45 per cent of the 3.5 million workers hitting state pension age between 2016 and 2020 are expected to be entitled to the new full state pension, set […]

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MM leader: FCA could open Pandora’s box on advice charges

As the head of a regulator funded by £446m of financial services firms’ money this year, a third of which came from advice firms, FCA chief executive Martin Wheatley is a man advisers probably love to hate. Money Marketing first interviewed Wheatley back in October 2012. Pre-RDR, his focus was on creating a “utopia” where […]


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