Building societies are likely to suffer falling profits as interest rates remain low and credit losses mount, says accounting group KPMG.
The Bank of England has held interest rates for a fifth consecutive month today, while expanding its quantitative easing measures.
The Bank of England's Monetary Policy Committee (MPC) noted improving market conditions before unanimously voting to hold interest rates at 0.5%, the minutes of the July meeting have revealed.
The Bank of England has shocked the City by freezing its quantitative easing programme and keeping interest rates on hold.
Philip Brown, Head of Retirement Products at Partnership Ltd, offers some essential tips to securing the best retirement income for clients