Report reveals lenders not passing on base rate cuts

Story link: Report reveals lenders not passing on base rate cuts

The Bank of England’s Quarterly Bulletin has revealed that High Street banks have not been passing on base rate cuts in full.

Interest rates have been held at the record low of 0.5% since March 2009 (when the country was in the midst of its worst recession in decades), but despite this, banks are not passing this saving on to borrowers.

http://www.financemarkets.co.uk/2010/09/20/report-reveals-lenders-not-passing-on-base-rate-cuts/