LONDON, Aug 5 (Reuters) - HSBC said it would passon a 25 basis point cut in the Bank of England base rate to itstracker mortgage borrowers from Friday, and extend savings tostandard variable rate mortgage borrowers from Sept. 1.
"We have passed on the full reduction to customers withtracker mortgages today," Europe's largest bank said in astatement, a day after the UK central bank halved the keyborrowing rate to a record 0.25 percent low in a bid to shore upBritain's wilting economy.
"We will also be passing on the reduction to mortgagecustomers on our Standard Variable Rate, which is already one ofthe lowest in the market and will reduce from 3.94 percent to3.69 percent with effect from 1st September." (Reporting By Andrew MacAskill and Sinead Cruise, editing bySimon Jessop)