BNP Paribas - 15% rate cut

[oliverson]

I can understand them cutting rates as all the other banks have but why go one better? 15% as opposed to 10%.

Hoping Italy goes bust so these c***s go under!

[BrilloPad]

Hoping Italy goes bust so these c***s go under!

Then it will be a 100% cut.

[administrator]

Then it will be a 100% cut.

And more banking contractors in the market helping to put downward pressure on rates? 15% is a hell of a cut though, guess if other banks see this happen they may well follow suit.

[northernladuk]

Bearing in mind Barlcays[sic] cut 10% and then 4 months later walked 800 or so contractors of site in Knutsford they are not doing this for a laugh.

[BrilloPad]

And more banking contractors in the market helping to put downward pressure on rates? 15% is a hell of a cut though, guess if other banks see this happen they may well follow suit.

Indeed. And hot on the heels of the barclays 10% cut.

[MarillionFan]

Source????

[oliverson]

Source????

Source is ME. Agent called this morning.

All the other guys are getting their calls too.

[MarillionFan]

Source is ME. Agent called this morning.

All the other guys are getting their calls too.

Predicted here

[fullyautomatix]

Some banks take advantage of the doom and gloom and make the cut. I doubt any of them would be worried about a contractor earning 500 quid per day consuming all their cash resources. Somewhere some HR girlie will be getting a bonus because she managed to get the costs down by introducing a 15% cut.

[northernladuk]

Some banks take advantage of the doom and gloom and make the cut. I doubt any of them would be worried about a contractor earning 500 quid per day consuming all their cash resources. Somewhere some HR girlie will be getting a bonus because she managed to get the costs down by introducing a 15% cut.

I don't believe this. Just bank bashing propaganda. I would however expect it is a book balancing exercise to make their numbers look more attractive with the current scrutiny they are under and nothing to do with bottom line or anything for the long run.