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Interest rate lowest since 1955In a move that has surprised many analysts, the Bank of England has cut interest rates to just 3%. The 1.5 percentage point cut was much greater than anticipated. Borrowers are now waiting to see whether this cut will be passed on to them through the banks. The cut, if passed on to customers, could make mortgaging and remortgaging easier and cheaper within the coming months. One Response to “Interest rate lowest since 1955”Leave a Reply |
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November 18th, 2008 at 5:41 pm
Nice in theory, another matter in practice - although the rates drop must have some effect for the ordinary consumer.