Page 27 - Base Rate News Today

HDFC Bank has increased the benchmark marginal cost of funds-based lending rates (MCLR) by up to 5 basis points on select tenures. The rates are effective from November 7, 2023.

London stocks were set to nudge lower at the open on Tuesday following Chinese trade data and a downbeat Asian session.

London stocks were little changed in early trade on Tuesday after a downbeat Asian session, as investors mulled the latest house price and retail sales data and waded through a deluge of corporate news.

According to the report from Halifax, the typical UK home now costs £281k, up around £3,000 on the previous month. 

UK house prices rose in October amid constrained supply, after six consecutive monthly falls, but demand remains weak overall, according to data released by Halifax on Tuesday.

House prices rose by 1.1% in October, according to the mortgage lender, Halifax, ending a run of six consecutive monthly falls.

The Government’s cost of short-term borrowing has fallen at the fastest pace in Europe today after the Bank of England’s chief economist raised hopes of interest rate cuts.

The lowest available rate for an 85 per cent LTV five-year mortgage rate dropped below 5 per cent for the first time since June.

Analysts are almost unanimously urging the Bank of England to leave rates on hold at 5.25 percent this month, considering a month-on-month easing of core inflation.

Fed decision leaves the key lending rate between 5.25 and 5.50 per cent - a 22-year high