News Tag: rate cut
April 20, 2009
Moneysupermarket.com has revealed that the average interest rate of loans dropped last week for the first time since August 2008.
The average annual percentage rate (APR) of leading loan providers hit a high of 8.88% in March, compared to 7.34% in March 2008.
The peak came despite repeated cuts to the Bank of England's base rate to an all time low of 0.5%.
However, last ...
Lenders cut APR on loans
by David Masters
April 2, 2009
The main interest rate has been cut by the European Central Bank (ECB) by just 0.25 percent, which is a conservative measure that has stunned the financial markets.
It does, however, mean that there is a greater possibility that further interest rate reductions may follow, as the ECB President Jean-Claude Trichet has said that the Governing Council will then decide whether ...
Euro zone rate cut less than expected
by Peter Charalambous
March 4, 2009
Further cuts to the Bank of England's base rate (BBR) would be an 'assault' on both savers and borrowers, the Building Societies Association (BSA) said this week.
The BBR is already at an all time low of 1%, and analysts widely expect the central bank to announce additional cuts later this week.
However, the BSA warned that cutting the BBR again would be ...
BSA: Rate cuts an ‘assault’ on savers
by David Masters
Analysts expect 0.5% rate cut tomorrow
by David Masters
February 16, 2009
Nationwide has announced interest rate cuts on a number of its fixed-rate mortgages, and has launched a new range of tracker mortgages.
From February 17, new fixed-rate mortgage customers at the building society will be able to sign up for deals 0.2% lower than current rates.
The lower rates will also be available on remortgages and to current Nationwide customers renewing their mortgage ...
Nationwide cuts interest on fixed-rate mortgages
by David Masters
December 3, 2008
The UK services sector, which is the backbone of the economy, is declining at a record rate as the closely monitored Purchasing Managers' Index (PMI) fell to 40.1 in November from 42.4 in October, the lowest level and fastest decline since the survey started in 1996.
The index monitors everything from output to orders and jobs and ...
UK services sector hits new low, calls for aggressive rate cut
by Kay Murchie
