Following the Bank of England’s Monetary Policy Committee (MPC) meeting this morning, the base rate has been cut from 5.25% to 5%, as widely expected by economists. This is the third time since December that interest rates have been cut in an effort to protect the economy from the global credit crunch. However, due to the credit [...]
Following the Bank of England’s Monetary Policy Committee (MPC) meeting this morning, the base rate has been cut from 5.25% to 5%, as widely expected by economists. This is the third time since December that interest rates have been cut in an effort to protect the economy from the global credit crunch. However, due to the credit [...]
Its just a pitty those rate cuts are not being passed onto borrowers though. The BOE deal announced today says it will buy up mortgage based assets in return for bonds which should hopfully add liquidity to the market and help these cuts be passed on
Interest rates lowered to 5%
