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Did HSBC drop their base rate when the Bank Of England lowered interest rates 1.5%?

April 26, 2017Bank base Business corporations drop Finance HSBC interest rates rate

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Did HSBC drop their base rate when the Bank Of England lowered interest rates 1.5%?

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HSBC and other retail banks do not have their own base rate. The base rate is decided by the Bank of England. It is upto the individual banks whether or not they pass on that cut (or rise) to the consumers. They have different rates for different products.