SVR held as Leeds Building Society reacts to MPC decision

Leeds Building Society has opted not to increase its standard variable rate (SVR) following yesterday’s announcement by the Bank of England’s Monetary Policy Committee (MPC).

The MPC agreed to increase Bank Base Rate (BBR) from 0.75% to 1.00%.

Richard Fearon, chief executive officer at Leeds Building Society, said: “As a building society, it’s important for us to balance the needs of savers and borrowers, and we’ve worked hard in this low interest rate environment to offer long-term value to both.

“For that reason, we’ve again agreed not to increase our standard variable rate (SVR) following yesterday’s MPC announcement.”

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