Base Rate Cut 1/4% to 4.5%

The Bank of England Monetary Policy Committee has cut the base lending interest rate 1/4% to 4.5% after months of speculation that a rate cut would come in August.

Interest Rate Cut Too Close to Call

The week ahead is an important one for those with variable rate mortgages, as once again the Bank of England Monetary Policy Committee will meet and decide whether or not to impose a cut in the base interest rate.

Base Rate Held

The Bank of England’s monetary policy committee voted to keep the base rate at 4.75% last week, despite pressure from business groups to cut interest rates following weak performance in the housing market and on the high street.

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