Summary
Recently nationalised bank Northern Rock has yet to announce if it is passing on last week's interest rate cut to borrowers despite calls from the Prime Minister for lenders to reduce their rates.
The group said yesterday that its standard variable rate (SVR) "remained under review" following Thursday's quarter point reduction by the Bank of England's Monetary Policy Committee.See the full content of this document
Extract
Northern Rock Waits On Rate Change
The troubled lender, which was nationalised after running into problems as a result of the credit crunch, passed...
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