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Libor drops below 1%

Three month Sterling Libor rates have dropped down below 1 per cent for the first time in history.

Three month Sterling rates have been slowly reducing since the Bank of England dropped base rate down to 0.5 per cent, but have only today got within 0.5 per cent of base rate, to 0.99 per cent.

Three month Libor rates began in January 1986, and have never gone below 1 per cent.

In light of falling Libor and swap rates, critics have hit out at mortgage lenders for recently increasing rates. But the Council of Mortgage Lenders defended its members yesterday, arguing that increased regulation, arrears management and capital requirements have made it impossible to reduce new mortgage rates.


Mott goes full circle

Leading fund manager Bill Mott has been reunited once more with the Credit Suisse income range after Premier Asset Management struck a deal to buy 10 funds from Aberdeen Asset Management.

Dennis Hall

Dennis Hall is one of the few IFAs who is genuinely unconcerned about the retail distribution review. The managing director of Yellowtail Financial Planning is in the enviable position of having made the switch to fees several years ago. Yellowtail does not derive any income from trail commission or generate any income from assets under advice. Income for the firm is all derived from the advice billed in any given year.

Low points

Interest rates have been the centre of many investment discussions in the past year. With the Bank of England deciding to hold interest rates at their historically low level of 0.5 per cent, it appears that this topic is not likely to go away any time soon.


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