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Early rates Xmas present for homeowners

Homeowners have been assured a happy Christmas by The Bank of England as base interest rate unchanged at 5.5 per cent yesterday.

But the Monetary Policy Committee has decided not to explain the freeze.

Commentators believe there is mixed motive as a stronger pound and signs of slowing demand may have persuaded the majority a rate hike was unnecessary, other could have believed a reduction could be needed to restrain inflation.

A Confederation of British Industry spokesman, said: “This is good news. Exporters may be seeing volumes pick up, but sterling remains both strong and volatile. Consumers are also being cautious.”


FSA lays down law for directors

The Financial Services Authority is setting out proposals to ensure directors have clearly defined responsibilities, making them more accountable to their staff.Senior managers are expected to be held directly responsible for compliance and regulatory requirements. The plans should become law next year.

Aberdeen profits boost

Aberdeen Asset Management profits soared by 76 per cent year ending September as result of strong UK retail growth and buoyant sales of ISAs.Pre-tax profits were up from £8.7m to £15.3m year ending September 30 compared to the same time last year. Assets under management rose 23 per cent to £16.1bn.AAM chief executive Martin Gilbert […]

National Mutual quotes pensions on-line

National Mutual is launching an on-line quotation service for personal pensions in February. The service aims to provide IFAs with instant access to on-line quotations through a free internet-based service.IFAs will be able to key in the details of a client, giving the system the information it needs to generate a shortlist of suitable products.National […]

Experts claim new pension too complex

Government plans to encourage low earners to stay in their occupational schemes have been attacked as too complicated by industry experts.Legal & General pensions strategy director Adrian Boulding claims plans to top-up those earning less than £9,500 fail a simplicity test. Many believe the move will add far too much red tape.

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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