Sentences with phrase «unprecedented global banking crisis»

«Mr Speaker, I think the leader of the opposition doesn't understand one thing: This is an unprecedented global banking crisis.

Not exact matches

However, in November 2008 when the global economic crisis led to an unprecedented 1.5 percentage points cut in the base rate, banks such as HBOS, Lloyd's TSB and Abbey all passed on the full 1.5 % cut to borrowers with standard variable rate (SVR) mortgages.