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Our response to the Bank of England's base rate cut
The 1.5% cut in bank base rate was the largest single change to rates since 1983 and took the base rate to 3%, its' lowest level since 1955.
Bearing in mind the new low interest environment we are considering how best to balance the interests of Savers and Borrowers.
We can confirm that we will reduce rates and that these reductions will take effect from 1st December.
Members will be notified of any changes in the usual way but an announcement will be made prior to the effective change date of 1st December.
The 1.5% cut in bank base rate was the largest single change to rates since 1983 and took the base rate to 3%, its' lowest level since 1955.
Bearing in mind the new low interest environment we are considering how best to balance the interests of Savers and Borrowers.
We can confirm that we will reduce rates and that these reductions will take effect from 1st December.
Members will be notified of any changes in the usual way but an announcement will be made prior to the effective change date of 1st December.
