x Bank Rate The rates of interest recommended by the Council of the Building Societies Association

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1 24 Aug Sept Sept Nov Oct Dec Sept Nov April Mar Mar (April 1952) 17 Sept May Jan July (Sept 1955) (Sept 1955) 25 Feb Nov Feb April (May 1956) July (Oct 1956) (Oct 1956) 7 Feb Sept Mar May June Aug Nov May (July 1959) (July 1959) 21 Jan May (July 1960) 23 June July Aug 1960) 27 Oct Dec July May (Oct 1961) 5 Oct July Nov (Oct 1961) 8 Mar Mar April Jan Jan (April 1963) (April 1963) (Feb 1963) 27 Feb Nov Jan (Feb 1965) (Feb 1965) (Feb 1965) 3 June June (July 1965) (July 1965) May July Jan Dec (Jan 1967) (Jan 1967) 16 Mar May Oct April (May 1968) (May 1968) (May 1968) 9 Nov Nov Mar Sept Feb Mar Mar (April 1969) (April 1969) (April 1969) 15 April April Sept Oct (Jan 1972) (Jan 1972) (Nov 1971) 110

2 22 June Sept (Oct 1972) (Oct 1972) 13 Oct Sept (Oct 1972) (Oct 1972) Note: This rate obtained until 13 October 1972 when Bank Rate was discontinued. Minimum lending rate Date of change Rate % 27 Oct Dec Dec Dec Jan Jan (Feb 1973) (Feb 1973) 23 Mar Mar (April 1973) (April 1973) 13 April April (May 1973) (May 1973) 11 May May June July July Aug July Sept (Oct 1973) (Oct 1973) 19 Oct Nov Jan Feb April April May Sept Jan Jan Feb Feb Mar Mar April (June 1975) (June 1975) 18 April May July Oct Nov Nov Dec Jan Jan Jan Jan Feb Feb Mar April April (May 1976) (May 1976) 21 May Sept Oct Oct (Nov 1976) (Nov 1976) 111

3 19 Nov Dec Dec Jan Jan Jan Feb Mar Mar Mar April April (May 1977) (May 1977) 15 April April April May Aug June (July 1977) (July 1977) 12 Aug Sept Sept (Nov 1977) (Nov 1977) 16 Sept Oct Oct Nov Jan Jan (Feb 1978) (Feb 1978) 11 April May June (July 1978) (July 1978) 12 May June Nov (Dec 1978) (Dec 1978) 9 Nov Feb Mar April June July (Aug 1979) (Aug 1979) (Jan Nov July Nov (Jan 1980) (Jan 1980) 24 Nov Mar Dec (Jan 1981) (Jan 1981) The minimum lending rate fixed at 11 March 1981 obtained until 20 August 1981 when MLR was suspended 20 Aug Mar (April 1981) (April 1981) Barclays Bank base rate Date of change Rate % 16 Sept Oct Oct (Nov 1981) 13 Oct Nov Dec Jan Feb Mar Mar (April 1982) 112

4 8 June July Aug Aug (Sept 1982) 18 Aug Aug Oct Oct Nov (Dec 1982) 26 Nov Jan Mar April June June (July 1983) 4 Oct Mar Mar May July July July Aug Aug Aug The BSA Council ceased recommending rates of interest in October 1983, and advised rates until 9 November Predominant rates after this are shown below. 7 Nov Nov Nov ( ) 11 Jan Jan Jan ( ) Minimum lending rate was reintroduced on 14 January 1985, for one day only. 28 Jan Mar Mar April ( ) 12 April Aug (8.925) 15 July Mar (8.52) 29 July Jan Mar April On 11 April 1986, it was decided that the collective discussion of interest rates by the Council leading to a statement that a reduction or increase in rates of a certain magnitude was considered appropriate, be discontinued. Predominant and average rates are shown over page

5 Bank Base Rate Date of Change Rate % Date Building Society Building Society Average Average Mortgage Gross Share Rate Rate 18 April Q May Q Oct Q Mar Q Mar April May Q Aug Q Oct Q Nov Q Dec Feb Q Mar Q April Q May Q June June June June July July Aug Aug Nov May Q Oct Q Q Q Oct Q Q Q Q Feb Q Feb Q Mar Q April Q May July Sep May Q Sep * Q Sep Q Sep Q Oct Nov Jan Q Nov Q Q Q Feb Q Sep Q Dec Q Q Feb Q Dec Q Q Q Jan Q Mar Q June Q Oct Q May Q June Q July Q Aug Q Nov * The 15 per cent rate was not actually implemented due to Sterling leaving the European Exchange Rate Mechanism

6 Bank Base Rate Date of Change Rate % Date Building Society Building Society Average Average Mortgage Gross Share Rate Rate 4 June Q Oct Q Nov Q Dec Q Jan Q Feb Q Apr Q Jun Q Sep Nov Jan Q Feb Q Q Q Feb Q Apr Q May Q Aug Q Sep Q Oct Q Nov Q Q Feb Q July Q Nov Q Q Feb Q May Q June Q Aug Q Q Q Aug Q Q Aug Q Q Q Nov Q Jan Q May Q July Q Dec Q Feb Apr Branch instant access rate 8 Oct Q Nov Q Dec Q Jan Q Feb Q Mar Q Q Q Q Q Q Q Notes: 1. All rates shown are as at the end of the period. 2. Prior to April 1991, building society interest was paid net of composite rate tax. Gross equivalent rates have been derived using composite rate tax rates for this period. From April 1991 onwards, contractual rates of interest are expressed in gross terms and shown before any deduction for income tax. 3. In 2008 the Bank of England began reporting interest rates for Monetary Financial Institutions. Source: Office for National Statistics, Bank of England UK MFI average - UK MFI average - instant access deposits including unconditional bonuses UK MFI average - Tracker mortgage 2011 Q Q Q Q Q Q Q Q Q Q