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Shadow MPC advocates 1% base rate cut

Members of Mortgage Strategy’s GE Money Home Lending Shadow Monetary Policy Committee are calling for a 1% rate cut ahead of the official decision this week.

The majority voted for a 1% cut as the industry grapples with the after-effects of the pre-Budget report and the implications of the Crosby review.

Chris May, director of Vision Network, thinks the rate cut may be even higher.

He says: “The MPC cut rates too late so I’m voting for a further 1.5% reduction as we are still playing catch-up.”

And Dev Malle, sales director at Personal Touch Financial Services, adds that a further cut will provide extra stimulus and momentum.

Only one member of the committee voted to hold rates at 3%.


Health Shield

Product guide — health cash plans to suit all shapes and sizes

This guide, called ‘Health cash plans to suit all shapes and sizes’, provides information on Health Shield’s standard and tailored cash plans, which are designed to satisfy all business and employee needs. Each scheme can be offered on a voluntary, company-sponsored or flexible-benefits basis.


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