,p> The call came after a succession of interest rate rises that have seen the basic rate climb from 3.75% to 4.75% since the beginning of the year. This week’s Accountancy Age/Reed Finance Big Question survey revealed that almost half of the UK’s FDs (44%) believe Bank of England governor Mervyn King should leave interest rates alone.
One FD polled said: ‘The economy seems to be responding and needs to be left a few months. Any further increase in interest rates may lead to an overcooling of the economy and a repeat of the early nineties.’
However, 39% of the finance directors questioned believed another rise was appropriate. Tim Carr, FD at Charcol Holden Meehan, said: ‘Consumer credit rises, fuelled by public confidence off the back of potentially artificially high equity in property, need to be brought under control.’
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016