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The Bank goes bonkers!

The Bank of England has just dropped the Base Rate to 3%, cutting 1.5% off the existing rate. About a year ago I was contemplating a fixed rate deal to try and protect myself against the rising rates. It's not going to give me any more money in my pocket each month though as I'll be rolling the money I would have paid into paying off capital instead of interest; the joys of flexible mortgages.