Archive for the 'Interest Rates' Category |
Today the Bank of England has dropped its base rate by 0.25% to 5.0%. Variable rate mortgage holders will be please to know that the large lenders have promised to pass on the drop to their customers.
The cut was generally expected, and is seen as the Bank's attempt to stave off the credit crunch and encourage growth.
The Bank of England has today voted to reduce the base rate to 5.25%. The move has been made to help prevent recession gaining momentum in the British economy. Market commentators are generally predicting a continued slow fall in the base rate this year - gradually falling to around 4.5% by the end of 2008, or early 2009.
The Bank of England today voted to drop the base rate to 5.5% following indications that the economy is slowing.
The reduction is good news for mortgage holders with the two big lenders Halifax and Nationwide dropping their rates promptly following the cut.
The Bank of England today voted to drop the base rate to 5.5% following indications that the economy is slowing.
The reduction is good news for mortgage holders with the two big lenders Halifax and Nationwide dropping their rates promptly following the cut.
The Bank of England has voted to leave the base rate at 5.75% for the fourth month in a row. The last change was an increase of quarter of a percentage point to 5.75% on 5 July 2007.
A cut is expected in the near future, but it was widely recognised that there is insufficient pressure to cut the base rate just yet.