The recent decision by the Bank of England to keep the base rate at 5 percent was as per expectations according to the Abbey National.
A spokesman from the Abbey National explained that the need to manage an economy that is slowing down meant it was highly unlikely to see the interest rate increased, since that would slow it further. The rise in inflation, up to 3 percent in April also meant that a rate reduction was not going to happen since that would further fuel the inflation rate.
Looking forwards the Abbey National feel there may be a cut in the interest rate later in the year, though it needs the inflation rate to be kept under control for that to happen.
The Alliance and Leicester Premier 21 account turned one year old today and to mark the occasion a ten percent interest rate offer has been reintroduced for new customers.
The ten percent offer on the Alliance and Leicester current account will be valid for the first GBP1,000 deposited and kept in the account for 12 months. After the first year the rate will revert to a base rate tracker.
The current account is available to customers aged between 16 and 21, with an interest free overdraft facility available to those over 18. An Alliance and Leicester spokesman believes that by concentrating their efforts on smaller markets such as this they can deliver a product better suited to their needs.
The annual listing of great places to work in the UK now includes Admiral in the top 10, the only business from the financial services sector to be found there.
It has been a reward for all their hardwork it seems, since Admiral also received the special status of laureate because it has been in the top 50 for the last 5 years. One of the key elements of any great place to work is trust between employees and managers, something Admiral has been commended for.
This fantastic achievement is sure to be seen as just reward for all the staff at the company whether they work in the Admiral car insurance department or any other part of the business. They have all worked together to make the organisation what it is today.