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OECD: UK heading back to recession

The UK will have returned to recession by the end of the first quarter of 2012, according to the Organisation for Economic Co-operation and Development .

In its latest Interim Economic Assessment, the group predicts that the UK economy will contract by annualised 0.4% over the opening three months of 2012.

This follows the annualised 1.2% contraction the OECD believes was seen at the end of 2011, placing the country in technical recession.

The recession is expected to be short-lived, with 0.5% growth forecast for the second quarter of the year.


Multi- manager view

With the Greek problem punted into the middle distance, investors have had to find something else to worry about. The price of oil has stepped up to the oche, with the recent price hikes and the Iranian tensions making it the obvious choice for the nail-biters among us. Previous episodes of elevated oil prices have […]


Mortgage borrowers could become mortgage prisoners

Only earlier this month, the Treasury Select Committee criticised the FSA for not doing more to help mortgage borrowers over the age of 50 who have interest only mortgages. Regardless of the criticism shown towards the FSA, it is a positive step that this issue and interest-only mortgages as a whole are discussed in the […]

Newcastle semi-exclusive fix has no ERC

Newcastle Building Society has introduced a semi-exclusive two-year fixed-rate mortgage that has no early redemption charges if the loan is repaid in the fixed-rate period.


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