So as I predicted, well along with everyone and their dog, the bank has cut interest rates to the lowest since records began and that’s 1694. Will you feel the benefit? I don’t know I suspect the largest UK lender the Halifax won’t be passing the rate cut on, however, Nationwide and HSBC have. So where next for rates? I reckon another half point to 1%, I don’t see them going lower, I think the Bank will keep something in reserve in case things are worse than they predict, personally I think things won’t be as bad as predicted – they’ll still be bad, just not that bad.

Source: The Guardian.