The Current Bank of England Base Rate:
The Bank of England (BoE) Base rate has changed to 5.25%.
What is the Base Rate?
The base rate is the interest rate Bank of England charges on the money it lends to financial institutions.
The cost of providing some financial products can change when the base rate changes. The reason for this is that some products like Mortgages, Business Loans and Overdrafts are directly linked to the base rate.
For more information about the current base rate you may view the Bank of England website here
If you have further questions about the base rate, please contact your branch manager for further details.