Annuity rates stall

The best level rate has remained unchanged on the month, at £7,150 p.a. from Norwich Union (male 60, level escalation, £100k purchase) as providers awaiting decisions on interest rates before mapping out their strategy for the coming months. David Marlow, director, Alexander Forbes Annuity Bureau, said: "Level annuity rates which had been rising steadily all year have stalled in August. The scene for the next few months will be set by the Bank of England's critical decisions over the next few months. With the next interest rate decision due on August 6 and quarterly inflation report due ...