View more on these topics

MPC member’s death causes market jitters

David Walton, an external member of the Bank of England’s Monetary Policy Committee, died last Thursday aged 43, following a short illness.

Walton was the only committee member to vote in favour of an interest rate rise in the last two meetings. His death caused the financial markets to back-track, sending short sterling interest rate futures up and the pound down against both the euro and the dollar. Mervyn King, governor of the BoE, says: “At the moment all our thoughts are with David’s wife, his young children and his parents. David inspired the respect and affection of all his colleagues in the Bank and this news is a shock to us all, as it will be to those who knew him in the City where he made his reputation as an economist.”

Recommended

Retirement plans remain unfulfilled

Half of all Brits plan to travel the world when they finish working, but research from Mutual Assurance shows few fulfil their aspirations.

MMC Ventures arranges equity investment with Connect

MMC Ventures, which invests in early stage growth companies, has arranged an equity investment of 1.45m in Connect Mortgages Group, a mortgage processing company based near Lewes, East Sussex. Connect streamlines the mortgage application process on behalf of intermediaries allowing brokers and independent advisors to focus on sales and to reduce costs. The investment from […]

Bankrupts get remortgage lifeline from Bananas Inc

Bananas Inc has launched its Lifeline remortgage scheme that allows bankrupt customers to pay off their creditors and remortgage their homes. Under the scheme a solicitor is instructed to liaise with creditors and appointed representatives charged with monitoring the bankrupt to agree a settlement figure. Once the settlement amount has been finalised, it is secured […]

Mortgage approvals up in May

Figures released by the Bank of England show that the number of new mortgage approvals for home purchases in May were 117,000, up from 106,000 in April. Approvals, which are an indicator of housing market demand, are up 23.2% from the same period last year and are well above the historical average of 97,000 per […]

Newsletter

News and expert analysis straight to your inbox

Sign up