BoE Base Rate Change 2022

[LeadFarmer]

Had an email from my bank earlier saying that the BoE base rate had changed today. Then received another email saying they had made a mistake and it hadn't, but is being reviewed in 2 days time on 5th May.

Anyone think that they know it's changing, and alerted customers too early, and had to quickly retract

Edited by LeadFarmer on Tuesday 3rd May 18:49

Edited by LeadFarmer on Tuesday 3rd May 18:49

[Shappers24]

Had exactly the same from Halifax…

Wouldn’t surprise me if banks are given the heads up before general public are told, in any event an increase in interest rates was always on the cards

[TC7]

Also had the same from Halifax. If Lloyds have sent the same it points toward an increase on the 5th i guess. Fairly impressive cock up by both banks jumping the gun and sending out the emails without fact checking though.

[Sarnie]

Halifax are part of the Lloyds Banking Group.....

[s111dpc]

No it’s just a c0ck up by Lloyds

[Carbon Sasquatch]

If banks were tipped off early it would be an insider trading scandal waiting to happen.

[NerveAgent]

I’m guessing they just have the email “ready to go” for if it does change and someone pressed the wrong button

[vulture1]

I bet you 0.25% the rates will go up

[LeadFarmer]

And as if by magic, base rates did indeed go up. Fabulous foresight by Lloyds/Halifax to be able to see into the future like that.

[Simpo Two]

Carbon Sasquatch said:

If banks were tipped off early it would be an insider trading scandal waiting to happen.

It does smell a bit like that, all lined up ready to go but somebody hit Send instead of Save... moments before thinking 'Oh fk' and trying to delete everything...