In today’s bulletin
General update Duty live – FCA messaging to consumers Government response on personal insolvency reform Duty training Events
General update No interest rate cut until 'solid evidence' price rises slowing – Bank of England The Bank raised interest rates to a 15-year high of 5.25% from 5% on Thursday, the 14th rate increase in a row. Inflation, which is the rate at which prices rise, is currently four times higher than the Bank's target at 7.9%. Twelve-month CPI inflation fell from 8.7% in May to 7.9% in June 2023. At its meeting ending on 2 August 2023, the MPC voted by a majority of 6–3 to increase Bank Rate by 0.25%. Two members preferred to increase Bank Rate by 0.5%, to 5.5%, and one member preferred to maintain Bank Rate at 5%. Richard Lane, Director of External Affairs at StepChange Debt Charity, said: “Earlier this week the FCA’s new Consumer Duty came into effect, and part of this sets out what is required of firms for supporting customers experiencing fina...
In order to access this content a ROAR Insight: Demsa option is required.
Join or add this to your existing account here.