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Eurozone maintains interest rate

The European Central Bank has kept its interest rate at 4.75 per cent, although analysts anticipate that a cut will come soon.

The ECB may have decided to proceed with caution to assess the effect of Wednesday&#39s Opec decision to cut oil production by 1.5m barrels per day, which fuelled fears of inflation.

Credit Lyonnais analyst Stuart Green says: “If the oil price stays roughly where it is we should see inflation down to about 2.3 per cent by April or May. We would then be looking for a 0.25 per cent cut in the second quarter of the year.”


Loophole opens way to Equitable exodus

IFA sources reckon the troubled life office has been inundated with transfer req uests from up to 9,000 policy holders and more than 25,000 transfer enquiries. Life office analyst Ned Cazalet says there is no quick solution for Equitable despite efforts by action groups to engineer an agreement to stop the outflow of business. Pension […]

UK unit trusts down over 2000

UK unit trusts dropped on average by 3.29 per cent in 2000, according to fund information company Lipper. This was the first full year decline in mutual funds since 1994. UK focussed funds did not do as badly as many other regions due to smaller weightings in technology stocks. The UK equity income sector, the […]

Pension offices shun WP stakes

At least three major pension players will not be offering with-profits under stakeholder because DSS proposals allowing the inclusion are deemed not practical. Scottish Equitable says it believes some of the Depart ment of Social Secu rity&#39s rules, which include an acc ounting ringfence, need to be ratified by the FSA under the Prudential Supervision […]

Britannia Building Society announces 15 year fixed rate

Britannia Building Society is launching a 15 year fixed rate mortgage at a rate of 5.69 per cent for up to 75 per cent of property value. Loans of 95 per cent loan to value are fixed at 5.89 per cent. A 10 year fixed rate option with the same rates is also available. Britannia […]


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