Property News · August 1, 2024

How will Bank of England interest rate cut affect my finances?


From mortgages to savings and from loans to credit cards, we look at impact of quarter-point cut to base rateBank of England cuts interest rates to 5% in narrow voteRelief for borrowers as UK interest rates cut but little sign big reductions to comeBusiness liveThe Bank of England has voted to cut the cost of borrowing, reducing the base rate from 5.25% to 5%. It is the first cut since March 2020 and follows a succession of increases that have taken the rate from a record low of 0.1% nearly three years ago. Continue reading…

Source : theguardian.com
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