interest rates

Pension transfer values remained stable throughout July, with the index finishing the month where it started, according to XPS Pension Group's transfer value index (TVI).

Yesterday's increase in the Bank of England's (BoE) base rate will not have an immediate significant impact on defined benefit (DB) scheme funding but schemes should reconsider their investment allocation, industry commentators have said.

The Bank of England's (BoE) Monetary Policy Committee (MPC) has unanimously voted to increase interest rates by 25 basis points to 0.75%, the highest level in almost a decade.

Hermes Investment Management's head of fixed income Andrew Jackson has warned the Bank of England (BoE) could cut interest rates next year, with rates having a bigger impact now than ever before.

UK inflation stuck at 2.4% in May, missing analysts' estimates of a move higher and further cooling expectations on an interest rate hike from the Bank of England this summer.

UK consumer price inflation fell 0.1 percentage points in April to 2.4%, a fresh one-year low and missing economists' expectations of inflation remaining at 2.5%.

Rates remain at 0.5%

The combined deficit of the UK's private sector defined benefit (DB) schemes fell by 40% to £78bn on an accounting basis during April, JLT Employee Benefits analysis has revealed.

Defined benefit (DB) 'superfund' consolidators will not take off, according to 52% of this week's Pensions Buzz respondents.

Held rates at 0.5%