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He now has the Aussies sending the Chinese a base lending rate of return of 3.75%.
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Barclays P.L.C., one of the country's four major banks, lowered its base lending rate to 5.75percentt from 6percentt, and Halifax, the country's leading mortgage lender, cut its standard rate for home loans to 7.5percentt from 7.74percentt.
Also yesterday, Standard Chartered Bank Malaysia Bhd. said it would raise its base lending rate to 10.45 percent from 10.35 percent, effective today.
The central bank cut the maximum margin between the base lending rate for commercial banks and the rate charged customers to 2.5 percentage points from 4 points.
---- British Banks Cut Rates LONDON, April 18 (AP) - Britain's four largest commercial banks have cut their base lending rates to 101/2percentnt from 11percentt, reflecting the recent strength of the pound.
The Bank of England boosted its base lending rate yesterday by a quarter of a percentage point, to 7.5percentt.
The dollar regained ground after the Bank of England lowered its base lending rate by a quarter point and the European Central Bank left its rates unchanged.
But the double-digit inflation of the early 1990s has been cut to 4.2%, the drachma has smoothly landed on its pre-set central parity of 340.75 per euro, and the base lending rate has been cut to 4.75%.
Interest rates have dropped (the base lending rate is down to 7% from 11.7% at the end of August).
In contrast, the base lending rate fixed by the central bank is a stiff 10.7percentt.
New Zealand's three-month interbank rate, base lending rate, and 10 year government bond yield are also at or near all-time lows.
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