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RBS and Dunfermline cut rates

Royal Bank of Scotland and Dunfermline Building Society are dropping their variable mortgage rates in response to the MPC&#39s decision to cut interest rates.


The Royal Bank is reducing its variable rate by 0.5 per cent to 8.2 per cent and Dunfermline is cutting their rate by the same amount down to 7.95 per cent.


Royal Bank chief economist Jeremy Pleat says: &#34The MPC&#39s decision to cut interest rates is most welcome, but a reduction of this magnitude comes as something of a surprise given that it has previously moved in quarter points.&#34

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