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CBI praises Bank of England&#39s gradualist approach

The Confederation of British Industry has praised the Bank of England&#39s decision to leave interest rates unchanged.

Ian McCafferty, chief economic adviser at the CBI, says: “The manufacturing recovery is fragile, inflation prospects are well under control and the previous two rate rises have not fully fed through.

“If the recovery continues as is hoped, the CBI recognises that rates will have to increase over the course of this year. But the Bank of England&#39s gradualist policy of well-explained and well-signalled rises remains the best way to maintain economic stability.

“The high level of personal debt reinforces the case for a steady approach and business remains concerned that sterling&#39s renewed strength could hold back the recovery.”


Offsetting could slow the rate-chasing trend

Jan Errington, group mortgage marketing manager, Abbey for Intermediaries The impact of low interest rates cannot be overlooked when considering the remortgage market. Short-term fixed rates and discounted deals have proved popular as people switch lenders to take advantage of the best deals available. However, the Miles report has called for more attractive long-term offers. […]

Borrowers take long-term view

Over a quarter of mortgage holders say they would opt for a fixed rate of more than five years if they were taking out a loan tomorrow, a survey by the Council of Mortgage Lenders reveals. The CML&#39s annual survey of consumers also shows that just over one in five respondents would prefer an interest […]

Mortgage Trust appointed to L&G mortgage club panel

Mortgage Trust has been appointed to the Legal & General mortgage club panel. The partnership is marked by the launch of a buy-to-let rate, exclusive to Legal & General mortgage club members of 5.39% fixed until June 30 2007. The rental income is calculated on the fixed rate. Mortgage Trust offers up to 85% LTV […]

Charlie Bean reappointed to Monetary Policy Committee

Charlie Bean, executive director for monetary policy and chief economist at the Bank of England, has been reappointed as a member of the Monetary Policy Committee with effect from June 1 2004. The reappointment is for a further three-year term.

A question of service

Roy Armitage, head of credit, LendInvest Selling a loan is the part of a lender’s workload most visible to brokers and borrowers. Just as crucial – but less frequently observed – is how that lender services that loan. A commitment to quality servicing is one that’s front and centre for us at LendInvest and it’s […]


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