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Nationwide and Halifax making no immediate change to rates following BoE cut

The largest lenders including Halifax and Nationwide say they will monitor the reaction in the market to the Bank of England&#39s move to cut rates to 3.75 per cent before deciding on their next move.

Both lenders say they will make decisions about their rates in due course, but The One Account, owned by Royal Bank of Scotland, has already announced it will reduce its variable mortgage rates by the full 0.25 per cent.

The new headline rate for The One Account will be 4.95 per cent and will be available to new and existing customers from February 7.
The One Account marketing manager Scott Mowbray says: “All One Account borrowers will be benefit from a full and immediate cut in our interest rates.”

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China’s economic bounce may already be over

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