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Investec Wealth & Investment comments on UK Interest rates rising for the first time in a decade
Thursday, 02 November 2017
Commenting on the BoE’s decision to raise interest rates, Shilen Shah, Bond Strategist at Investec Wealth & Investment, said: "As expected, the BoE increased interest rates by 25bps in a historic move. The committee vote for the rate increase by a 7-2 majority. The key driver for the increase in interest rates was the central bank’s more downbeat view on the economy’s growth potential, with the inflation forecast broadly unchanged from August. 
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Comment - "Interest rates will jeopardise the precarious financial stability of thousands of people"
Thursday, 02 November 2017
Commenting on the interest rate rise, David Rankin, director of Insolvency at Creditfix, said:     “This interest rate rise, while seemingly a positive move for the economy, will jeopardise the precarious financial stability of thousands of people across the country who are just about managing.
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Commenting on how the Bank of England has voted to raise interest rates
Thursday, 02 November 2017
Commenting on how the Bank of England has voted to raise interest rates for the first time in more than a decade, Emmanuel Lumineau, CEO at BrickVest, said: “Today’s announcement is momentous for the UK economy and should signal the start of a series of gradual increases. The Bank of England has decided that inflation is potentially getting out of control and the economy now requires higher borrowing costs. The decision also signals that the UK economy has not performed as weakly as the Bank predicted last year. 
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CPS responds to the Monetary Policy Committee decision
Thursday, 02 November 2017
Daniel Mahoney, Head of Economic Research at the Centre for Policy Studies, said:  "Today’s rate increase is a welcome step in addressing the problems associated with an unprecedented period of rock-bottom interest rates. Years of ultra-loose monetary policy have held back UK productivity by encouraging a misallocation of resources, sustaining zombie firms and helping inflate house prices beyond the reach of first-time buyers.
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Interest rate hikes set to hit struggling homeowners hard
Thursday, 02 November 2017
Households on variable rate mortgages with the lowest levels of disposable income are at risk of sinking further into debt if interest rates increase by 0.25 per cent on Thursday, a leading free debt advice service has warned.  
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Harrington Brooks and One Advice Group appoint well known debt expert Nick Pearson
Wednesday, 01 November 2017
Harrington Brooks, one of the UK’s leading debt solution providers and part of the One Advice Group, has appointed Nick Pearson to the role of Group External Relations Manager. He starts with immediate effect and will be focusing on meeting the creditor partners with which the Group currently has circa £800 million of debts under management for 50,000 customers nationwide. 
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MotoNovo Finance is creating 200 new jobs and is hiring now
Wednesday, 01 November 2017
Cardiff based financial services provider MotoNovo Finance has announced it’s creating around 200 new jobs in conjunction with the launch of its new careers website. 
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Smart Money appoints Sales Director for Regulated Business
Tuesday, 31 October 2017
Specialist finance broker Smart Money has appointed Colin Mason as Sales Director for Regulated Business. 
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89% of Consumers are Positive ‘Promotors’ of the Dealer Finance Experience
Tuesday, 31 October 2017
This is the impressive finding from an independently managed customer monitoring programme run on behalf of MotoNovo Finance, assessing feedback from consumers financing their vehicle with the business. The latest quarterly update to the end of September shows that customer approval with the dealer finance experience has increased slightly over the last quarter.  
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StepChange Debt Charity response to Bank of England Money and Credit statistics
Tuesday, 31 October 2017
In response to the announcement the latest Bank of England Money and Credit Statistics, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  “The continuing growth of consumer credit, and particularly credit card debt, should act as a warning sign about the financial health of households in the UK. Our research estimates that nearly 9 million people are using credit to pay for everyday household expenses, and with the Institute for Fiscal Studies (IFS) pointing out that average real wages are lower than they were a decade ago, more people are at risk of falling behind their everyday bills and becoming trapped in spiralling problem debt.
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High levels of consumer credit to ‘increase scrutiny’ on household debt
Tuesday, 31 October 2017
The Bank of England has today published its latest monthly Money and Credit report showing continued growth in consumer credit of 9.9 percent in the year to September. Outstanding balances for consumer credit now stand at over £204 billion. 
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