View more on these topics

US federal reserve cuts rates to 4.75 per cent

The US central bank has made the move to cut rates to 4.75 per cent from 5.25 per cent amidst the sub-prime turmoil.

New Star Asset Management chief economist Simon Ward says: “The Federal Open Market Committee’s decision to lower the Fed funds and discount rates by 50 b.p. represents a bold attempt to forestall the negative economic impact of recent financial market dislocation.

“Visibility is low and there is a risk that the Fed has jumped the gun – current economic indicators remain consistent with expansion and market stresses were starting to abate before the surprise move. The consensus is convinced that further cuts will follow but a scenario of “one and done” should not be ruled out. Remember August 2005 in the UK?”

Recommended

Out of focus

Amid the welter of words that have followed the publication of the retail distribution review, most of the attention has focused on the technical aspects of the proposals. Very little time has been spent on trying to understand what consumers actually want.

Damaged goods

Regulatory stupidity has allowed IFAs to take the flak for endowment mispricing

Vertex picks duo for board

Vertex has appointed two divisional directors to sit on its main operating board.Vertex Life Pensions and Distribution managing director David Child and Vertex Mortgages and Banking managing director David Edwards will join the main board, which is led by chief executive Richard Graham.Child is also managing director of The Exchange, which he joined in 2003 […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com