Interest Rate Cuts 2024 Uk Banks.  — to put into context the impact interest rate rises have had on banking results over the past couple of years, natwest (nwg) earned net interest income of £5.81bn from its lending book in 2020 when rates hit a low of 0.10 per cent due to the pandemic. For example, if you borrow £100 from a bank and it charges a 5%.

Last updated 23 september 2024.  — the bank of england has cut interest rates from 5.25% to 5%, the first drop since the onset of the pandemic in march 2020.