The special account interest rate has remained at 6% since 1 February 2002. Interest on special damages is normally calculated at half the special account rate and accordingly the appropriate rate going forward will be 1.5%. This change will be of particular importance when reserving and making offers in larger cases.
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RegisterCourt special account interest rate to fall to 3% from 1 February 2009
United Kingdom
February 2 2009
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Selma Savitz
Librarian, Group Legal Division
The Standard Bank of South Africa Limited
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