Base Rate

[DuaneJackson]

How do I find out the current base rate of a bank? Ie, HSBC.The info doesn't seem to be on their site.

 

[Jayne]

Hi Duane

Found this article in the Times if this will help, about different bank rates


http://www.timesonline.co.uk/article/0,,15929-1736398,00.html


Jayne

 

[Strategist]

Duane,
Short of asking them, they usually use a figure slightly higher than LIBOR (London Inter-bank Borrowing Rate) - see the linked chart from the FT site: http://www.marketprices.ft.com/markets/currencies/money
LIBOR itself is always a few 'basis points' (100ths of a %) above the Bank of England rate, i.e. today, BofE rate 4.5%, LIBOR 4.73% and, expect the lovely high street banks to use a base rate of something in the region of 4.75-4.90% - dependent on where, when and for how much any funds available to them for on-lending have been sourced or will be sourced.
I hope this helps.

 

[DuaneJackson]

Thanks, exactly what I needed.

And thanks for your link Jayne.