What Is the Difference Between the Bank of England Base Rate and the National Westminster Bank Plc Base Rate?
The Bank of England base rate is set by the UK's central bank and influences lending rates nationwide. While changes in this rate often lead to adjustments in the National Westminster Bank Plc base rate, they are not the sole factor. NatWest maintains independent control over its base rate, which means it can fluctuate independently of the Bank of England's rate, responding to a variety of economic factors and internal policies.