Bank of England believes Brexit could cost 75,000 finance jobs – BBC News

The Bank of England believes that up to 75,000 jobs could be lost in financial services following Britain’s departure from the European Union.The BBC understands senior figures at the Bank are using the number as a “reasonable scenario”, particularly if there is no specific UK-EU financial services deal. Source: Bank of England believes Brexit could cost 75,000 finance jobs – BBC News

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Mainstream lenders urged to provide mortgages to niche markets | Mortgage Introducer

Larger banks should be following the lead of their challenger bank rivals and serving the niche areas of the mortgage market, according to The Mortgage Hut managing director Chris Schutrups. Over recent years challenger banks such as Bluestone, Kensington, Atom and Secure Trust have all made inroads in the more niche side of the market Source: Mainstream lenders urged to provide mortgages to niche markets | Mortgage Introducer

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Inflation rate climbs to 3% | Mortgage Introducer

The UK inflation rate rose to 3% in September – its highest point in over five years. This represented a rise from 2.9% in August and means wages are still stagnating. However Governor Mark Carney narrowly avoided having to write a letter to Chancellor Philip Hammond explaining why inflation was more than 1% outside the 2% inflation target. Source: Inflation rate climbs to 3% | Mortgage Introducer

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Two MPC members cautious about rate rise | Mortgage Introducer

Two members of the Bank of England’s Monetary Policy Committee have spoken cautiously about the prospect of a rate rise next month. Bank of England deputy governor Dave Ramsden indicated he is not close to voting for a rate hike because there is little sign of inflation getting out of control, while new MPC member Silvana Tenreyro said she would require more data to vote for a rise on November 2. Source: Two MPC members cautious about rate rise | Mortgage Introducer

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