All Entries Tagged With: "cut interest rates"
Official: Interest Rate Cut Again by 1 Percent: Will Banks Follow?
Midday today the Bank of England Monetary Policy Committee cut the base interest rate by a full 1 percent this follows last month’s shock rate cut of 1.5 percent which was the biggest cut in 27 years.
This move takes the key interest rate to its lowest level since September 1939 and now stands at 2 [...]
Interest rates slashed in China
China has cut its key interest rates by 1.08 percent to 5.58 percent today, this being the largest cut the Chinese government has made for a decade in an attempt to shore up the economy.
The cut which is the forth in three month’s emphasizes the government’s fears of slipping growth rates, and its aim to [...]
Bank of England Likely to Slash Interest Rate Further
November 18: The Bank of England originally considered cutting the base interest rate by 2 percent before settling on cutting the base interest rate by 1.5 percent earlier this month. The vote to cut the rate by 1.5 percent was voted unanimously by The Monetary Policy Committee.
With the UK economy falling for the first time [...]
Tracker Mortgage rates down: but will your bank change its SVR?
If you have an existing tracker mortgage then the Bank of England’s announcement of a half a point cut today should put a small smile on your face, as your Tracker mortgage rate will follow down at the Tracker rate you hold.
The half a percent cut in interest rate will not benefit everyone, if you’re [...]
Bank of England cuts interest rate by 0.5 percent to 4.5 percent
The Bank of England, the European Central Banks and the US Federal Reserve all dropped half a point off their key interest rates, since the aftermath of the 9.11 this is the first unscheduled rate move.
Switzerland, Canada and Sweden all make similar cuts. Australia earlier this week dropped
Abbey to reduce rates on mortgage deals
If you’re a new borrower then you may be able to take advantage of Abbeys cuts in mortgage interest