Interest rate cut to 5%

Grovelawn Financial News 10/04/2008

← Rate cut pressure for Brown as working group emerges | News For April 2008 | RBS issues shares to help shore up bank →

The third rate cut since December

Fincial analysts have said that the slowdown in the economy and the continuing credit problems have forced the government to lower the base rate even though there is a risk of higher inflation causing even more long term problems.

The Woolwhich, therefore, Halifax, Nationwide and Barclay's mortgage customers will see their standard variable rates cut by the full quarter of a percentage point. Mortgage lenders have forseen this decrease in the base rate and have been increasing the rates attached to tracker mortgages over the past few weeks.

← Rate cut pressure for Brown as working group emerges | News For April 2008 | RBS issues shares to help shore up bank →

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