BANKING

Bank Rate held at 0.25%, government bond purchases at £435bn and corporate bond purchases at £10bn

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment.  At its meeting ending on 2 August 2017, the MPC voted by a majority of 6-2 to maintain Bank Rate at 0.25%.

Bank of England, 3 August 2017

Inflation report

The Bank of England have published their Inflation Report for August 2017.

Bank of England, 3 August 2017

The FCA and the FCA Practitioner Panel publish the findings from their joint survey of industry views

The FCA and the FCA Practitioner Panel have published the findings from their 2017 survey of FCA-regulated firms. The survey gives a view across the financial services sector of the FCA’s performance as a regulator. It provides the opinions of more than 2,000 regulated firms who completed the survey in March and April this year.

Financial Conduct Authority, 3 August 2017

Mortgage research: a message for respondents

The FCA have launched a survey of mortgages in the UK. It collects information that will help us understand more about people with mortgages and how they are managing them. This research will take place during August and September 2017.

Financial Conduct Authority, 3 August 2017

High Court finds customer's acceptance of bank offer as part of IRHP review precluded subsequent claim for consequential loss

In Cameron Developments (UK) Ltd v National Westminster Bank plc and another (26 July 2017) [2017] EWHC 1884 (QB), the High Court considered a claim for consequential loss from a customer who was sold a swap by a bank involved in the FSA's interest rate hedging products (IRHP) review.

Queen's Bench Division, 26 July 2017

INSURANCE

The ABI reveals the high costs of falling ill abroad this year

The figures come as the ABI launches its new guide to travel insurance to help travellers ensure they have the right travel insurance to cover any sky high overseas medical bills and emergency repatriation to get back home.

Association of British Insurers, 4 August 2017

Axa UK posts 5% revenue growth

According to the insurer its GI and healthcare revenues were £2.4bn for the time period, compared to £2.3bn in the first six months of last year.

Insurance Age, 3 August 2017

LV in talks with Allianz on GI stake sale

In a statement on the London Stock Exchange, LV noted that it was in “advanced discussions” with Allianz regarding the potential sale of a “significant minority stake” in the GI business.

Insurance Age, 3 August 2017