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Wednesday 18th of March 2009

News Tag: rate cut

March 4, 2009

BSA: Rate cuts an ‘assault’ on savers

by David Masters
Rate cuts an 'assault' on savers
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 ...



Analysts expect 0.5% rate cut tomorrow

by David Masters
Analysts expect 0.5% rate cut tomorrow
The Bank of England's monetary policy committee (MPC) will cut interest rates tomorrow, according to a poll of industry economists. Of the 11 experts polled, nine predicted a rate cut, whilst two said current economic conditions make it too close to call. Economists polled included representatives from HSBC, Barclays, the Centre for Economics and Business Research, the Royal Institution of Chartered Surveyors, and ...



February 16, 2009

Nationwide cuts interest on fixed-rate mortgages

by David Masters
Nationwide cuts interest on fixed-rate mortgages
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 ...



December 3, 2008

UK services sector hits new low, calls for aggressive rate cut

by Kay Murchie
”UK
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 ...