manshimajin Posted November 6, 2008 Share Posted November 6, 2008 BoE have announced a 1.5% reduction in the UK bank rate to 3% 1.5% Rate Cut AT - you and I both got it wrong. Will be important to see if this gets passed on to business and individuals as quickly as it does to depositors. ECB have reduced € rates by 0.5% to 3.25% Link to comment Share on other sites More sharing options...
Mission Posted November 6, 2008 Share Posted November 6, 2008 Great news. Link to comment Share on other sites More sharing options...
ai_Droid Posted November 6, 2008 Share Posted November 6, 2008 Great news. Posted in the other thread. It's only good news for borrowers if the rate gets passed on. Sadly, the boe tracker deals have started to dissapear, and the SVR's are still high because the libor rate is high still, though dropping. If you're a saver, its dire news. Link to comment Share on other sites More sharing options...
jimbms Posted November 6, 2008 Share Posted November 6, 2008 Great news. Posted in the other thread. It's only good news for borrowers if the rate gets passed on. Sadly, the boe tracker deals have started to dissapear, and the SVR's are still high because the libor rate is high still, though dropping. If you're a saver, its dire news. Not realy as the banks need money and one of their biggest sources is the saver, they can't afford for savers to leave therefore the savings rate is not falling much so has to keep savings accounts Link to comment Share on other sites More sharing options...
Mission Posted November 14, 2008 Share Posted November 14, 2008 Just got the letter today from IOM Bank. They're passing the full 1½ cut on to me - w00t! Link to comment Share on other sites More sharing options...
Slim Posted November 15, 2008 Share Posted November 15, 2008 Just got the letter today from IOM Bank. They're passing the full 1½ cut on to me - w00t! I got a letter from the abbey, they're passing the full 1 and 1/2 cut with effect from December, the last month of my tracker deal. I'm sure the letter was smirking. Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted November 19, 2008 Share Posted November 19, 2008 They might even reduce it further Link to comment Share on other sites More sharing options...
bazcabs Posted November 19, 2008 Share Posted November 19, 2008 Just got the letter today from IOM Bank. They're passing the full 1½ cut on to me - w00t! I got a letter from the abbey, they're passing the full 1 and 1/2 cut with effect from December, the last month of my tracker deal. I'm sure the letter was smirking. Halifax have done the same to me. Trying to get a new deal with them has been like pulling teeth this time. Every time I go to sign up, they've changed all the bloody deals again. Link to comment Share on other sites More sharing options...
xbones Posted November 19, 2008 Share Posted November 19, 2008 Yeah, I'm the same, think I'm just gonna go on the SVR @ 5% for a while and see what happens over the next year then maybe fix it if there's a good deal. Link to comment Share on other sites More sharing options...
Sneak Posted November 20, 2008 Share Posted November 20, 2008 My new tracker rate starts at the end of this month - 3.69% - woop, woop Even better if the BOE reduce the base rate again. Link to comment Share on other sites More sharing options...
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