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Base rate cut by 1.5%

Discussion in 'General Business Forum:' started by Stationery Direct, Nov 6, 2008.

  1. Stationery Direct

    Stationery Direct Administrator Staff Member

    The Bank of England base rate has been slashed by 1.5% to 3% today.

    Is this a good thing? What are your thoughts??
  2. Maddy

    Maddy Member

    I don't even know what that means!!:icon_biggrin:
  3. neildigital

    neildigital Member

    Depends if our banks past that on, as far as i am aware my building society never gave a cut in their rate from the last 0.5% last month.

    If they dont, thats 2% drop in the bank of Englands, but nothing in Coventry BS.....

  4. Stationery Direct

    Stationery Direct Administrator Staff Member

    Bet they make sure it is applied to the savings rates on offer!, luckily I invested some money today for the next 12 months at a really good rate.

    Only 2 weeks ago my sister applied for a mortgage fixed at 5.79%, she's wishing she held on now :icon_Wall:

    It's definitely a tricky time at the moment.

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