Investments  

Bank of England reveals November rate movements

Bank of England reveals November rate movements

The effective rate paid on households’ outstanding time deposits decreased by 3 basis points to 1.80 per cent in November and the rate for households’ new time deposits decreased by 1bp to 1.54 per cent, according to the latest Bank of England data.

The statistical release contains average interest rates across deposit or loan accounts with UK banks and building societies, calculated using data on rates and balances reported to the bank.

The effective rate on the stock of outstanding secured loans (mortgages) was unchanged at 3.19 per cent in November and the new secured loan rate fell to 3.10 per cent, a decrease of 8bps on the month.

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The rate on outstanding unsecured personal loans increased by 1bp to 7.24 per cent in November and the new unsecured personal loan rate increased by 20bps to 7.58 per cent.

peter.walker@ft.com