This comes at a time when profitability will be pressured by the lowering of the base interest rate
and elevated remediation costs.
Senior citizens investing in the Bajaj Finance Fixed deposit earn an additional 0.35% rate of interest over and above base interest rate
The monthly base interest rate
in October 2018 remains at 0.2%, while the annual base interest rate
fell to 2.38%.
The bank kept the base interest rate
for the next six weeks at a low rate of 0.1 percent.
The US Federal Reserve following the meeting on June 12-13 increased the base interest rate
by 0.25 percentage points to 1.75-2 percent from 1.5-1.75 percent per annum.
That is, the BOK will remain cautious and conservative in raising the base interest rate
| Chris Sutton, lead director at property consultancy JLL in Cardiff"Increasing the base interest rate
from 0.25% to 0.5% is a necessary step in monetary policy to begin the process of ending the era of cheap credit.
Some experts now believe the base interest rate
could double to 0.5 per cent as early as November.
The base interest rate
at the beginning of July remains 0%.
Calum Bennie, a savings expert at Scottish Friendly, said: "The decision by the Bank of England Monetary Policy Committee not to cut the base interest rate
beyond its already historic low will come as scant relief for cash savers.
In an interview ahead of the event in Cardiff, Mr Osborne stressed that the decision on when to raise the base interest rate
from the historic low of 0.5%, where it has remained since 2009 was a matter for the Bank of England, and it would be "wholly inappropriate" for him to seek to influence the timing of such a move.
The Bank of England will reveal today whether it has decided to raise the base interest rate
after seven years at a record low of 0.5%.