Can someone knowledgable explain to me the logic behind the banks decision when to pass on the cuts/increases in interest rates? I have a mortgage with KBC and when there was an increase in July, the ECB announced the increase on the 7th and the bank increased the rate from the 14th, so within 7 days I was paying the new interest rate. However when they cut it in November, the announced it on the 3rd and the bank didn't implement it until 1st December. My repayment comes out every 1st and there was no change in the December repayment. When I rang them they said the mortgage is paid always for the previous month and that the lower repayment wouldn't be until 1st January. So when it increased, I was paying the high rate within 7 days, but when it goes down I still pay the higher rate for another 2 months??? :mad: