Borrowing
3.75%Bank Rate, held
Bank Rate stays at 3.75%, so the cost of borrowing does not move this quarter and there is nothing to refinance.
Our readingTwo steps from what we hold
What we make of it
You are not borrowing today: cash covers about five weeks of costs and the shop runs on takings. A held rate changes nothing for you now; a rise would make an overdraft dearer if you came to need one. No move. Keep the cash line as it is and revisit if the Bank moves.
What it rests on
- Cash at bank: £41,000
- Fixed costs: £454,000
How we got here
- 1The Bank of England held Bank Rate at 3.75% on 17 September.
- 2Your cash is £41,000 against £454,000 of running costs a year: about five weeks.
- 3You are not borrowing, so a held rate costs you nothing now and there is nothing to refinance.
What it assumes
- You take no new borrowing this quarter.
Next
Nothing to fix. If you want to build on it, add it to your growth plan and an analyst looks at how.