Nationwide cuts offshore interest rates

The Sterling Base Rate Tracker Premium account has seen rates fall 0.25%, in line with the Bank of England reduction on 6 December (though another 0.25% cut by the Bank is widely expected today). Gross interest is now 5.7% for balances of £5,000 to £24,999, and 6.25% above £25,000. (For monthly interest payments the figures are 5.5% and 6.05%). Interest on the Lifetime Guarantee account has fallen from 6.6% to 6.4% for annual or deferred interest, and from 6.4% to 6.2% for monthly interest. The Federal Reserve has cut rates three times since 11 December, by a total of 1.5%. On the US Do...