Anticipation builds as Bank of England cuts interest rates
The Bank of England cut interest rates by a further 0.5% to 1.5% on Friday.
The base rate has already been cut several times since August 2008 in an attempt to ease pressure on the UK’s economy.
It now remains to be seen whether the banks will pass on the interest rate cut, making it easier for borrowers to meet the requirements for personal and secured loans.

January 13th, 2009 at 5:32 pm
Banks are getting progressively less likely to pass these on. The government will have to intervene more directly in some way.