In today’s bulletin:
General update
FCA QA survey for end of February 2025 – event on 21/2/2025
Charging CMCs from April 2025
FCA steps up action against misleading financial adverts
Collaborations
Events
General update
The Bank of England has halved its growth forecast for this year as it cut interest rates to the lowest level for more than 18 months. The Bank cut interest rates to 4.5% from 4.75%. At its meeting ending on 5 February 2025, the MPC voted by a majority of 7–2 to reduce Bank Rate by 0.25%. Two members preferred to reduce Bank Rate by 0.5%. The interest rate cut means that for the 629,000 homeowners on mortgage tracker deals that move in line with the base rate, there will typically be a £29 fall in monthly repayments.
The economy is now expected to grow by just 0.75% in 2025, down from its previous estimate of 1.5%.
“Economic growth refers to an increase in the size of a country's economy over a period of time. The size of an economy is typically measured by the total...
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