Bank of England drops base rate to 5.0%

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.

This entry was posted on Thursday, April 10th, 2008 at 3:59 pm and is filed under Interest Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.