Chancellor welcomes interest rate cuts

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21 / Jul

Despite widespread doom and gloom concerning the performance of the economy in the next 18 months, Darling remained cautiously optimistic about the chances for recovery under his stewardship. He argued that with the radical measures lined up by his government, the economy could be kick-started quicker than predicted.

Two of the countries leading lenders have already agreed to pass on the rate cut savings to their customers on Standard Variable Rate mortgage customers. Both Lloyds TSB and HSBC said that they would pass on the full amount to mortgage holders.

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