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Central banks lower rates

The Bank of England is one of seven central banks to drop interest rates by 0.5 per cent as further attempts are made to stabilise the global economy.

The UK decision comes a day early and sees rates cut from 5 to 4.5 per cent. Meanwhile, the US Federal Reserve has cut from 2 to 1.5 per cent and the European Central Bank from 4.25 to 3.75 per cent.

The others to cut rates are the central banks of Canada, China, Switzerland and Sweden.

CML director general Michael Coogan says: “Today’s package of bank funding and capital measures is further strengthened by this rate cut. Not only are the tripartite authorities now pulling together decisively to address domestic confidence, but international central bankers are also collaborating much more effectively on their position. All this decisive action augurs well for an improving market situation looking ahead, even though no one is pretending the tough times are over yet.”


RDR could hinder sales

If protection sales are included in the retail distribution review, it could hinder sales and increase the existing £2.3tn protection gap, warns Swiss Re Life and Health technical manager Ron Wheatcroft.

Three stocks due a Brexit boost

By Mark Martin & Holly Cassell, Neptune Mark Martin and Holly Cassell highlight three high-conviction holdings in the Neptune UK Mid Cap Fund that they believe are well positioned to benefit from Brexit. Read more Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide […]


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