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Sweden's central bank has cut its key interest rate today to 2.75 per cent from 3.25 per cent, as expected, while the Norwegian central bank held its policy interest rate unchanged at a 16-year ...
How UK interest rates have changed since 2007. ... has predicted that the recent inflation figures of 2.2 per cent “won’t be enough to trigger a surprise rate cut” today. ... The best toys ...
The Bank of England has held interest rates at 4.75% in December - following two falls in 2024. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
The current base rate stands at 5.25%. [4] The base rate was set at an historical low of 0.1% in March 2020. [5] Due to these record low rates many people with an existing mortgage were able to remortgage their home from a higher rate onto a lower rate which could result in a saving on their monthly mortgage repayments. [6]
A discount rate; where there is set margin reduction in the standard variable rate (e.g. a 2% discount) for a set period; typically 1 to 5 years. Sometimes the discount is expressed as a margin over the base rate (e.g. BoE base rate plus 0.5% for 2 years) and sometimes the rate is stepped (e.g. 3% in year 1, 2% in year 2, 1% in year three).
A higher lending charge (HLC) is a charge made by mortgage lenders in the UK when the loan-to-value ratio of a mortgage is higher than they are prepared to accept at standard rates. Typically, HLCs are applied to loans in excess of 90% of the property value although, until the 1990s, the limit was usually 75%.
The Bank of England‘s governor Andrew Bailey has described economic growth in the UK as “subdued”, as a major charity has warned that keeping interest rates unchanged at 5.25 per cent will ...
UK interest rates have been held at 4.75% following a divided vote among Bank of England policymakers, as they weighed up concerns over a stagnating economy and persistent inflation. The Bank’s ...