"Pass on rate cuts, MPs tell banks"

From Planet Zog:

The Bank of England's monetary policy committee has been urged by a group of more than 20 MPs to cut interest rates when it meets on Thursday. They have also tabled a motion in parliament urging all UK banks to pass on benefits to customers.

Meanwhile, in the real world:

Abbey is increasing rates on its two and three year tracker mortgages, which automatically move up and down in line with the Bank of England base rate, for new borrowers by up to 0.5%. The move comes as the Monetary Policy Committee is widely expected to cut interest rates by at least 0.5% on Thursday... The group's decision to increase its rates for new customers will effectively cancel out a 0.5% cut...