Bank of England cut rates ready for 'sharp and large' impact of coronavirus
The Bank of England has cut UK interest rates from 0.75% to 0.25% in an emergency move to bolster the economy amid the coronavirus outbreak and hours before ...
Mortgage lenders were expected to react quickly to the central bank decision by cutting the costs of monthly mortgage bills. Bank loans were also expected to follow the same downward path, although overdraft and credit card lending rates are expected to remain the same unfortunately.
HSBC became the latest high street bank to announce support measures on Wednesday when it said it would allow UK families and companies to defer payments on mortgages and business loans if required.
Take a look at all the major providers in the article below, to see what they're doing in response to the base rate cut:
Bank of England slashes interest rates to combat coronavirus 'shock' – what it means for you
The Bank of England has cut the base rate from 0.75% to 0.25% in a emergency response to the 'economic shock' of the coronavirus outbreak
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