Monday, Dec 17, 2007
It's a game of chicken!!
BBC News: Majority of lenders pass on cut
"I am surprised at the extent to which the full cut has been passed on," he said.
"Particularly when you bear in mind that the widening spread between bank rate and the cost of funds in the wholesale money market has increased the cost of borrowing for almost all lenders."
He predicted that if, as expected, there is a further Bank of England rate cut in the new year, those lenders who chose to pass on the cut in full this time will find it very difficult to do so again.
Posted by cheeky charlie @ 08:59 PM (141 views) Add Comment
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