	bank of england invites borrowing at pct the bank of england said it had invited those discount houses wishing to use borrowing facilities to do so at gmt today at a rate of pct for days this compares with the bank s present band one dealing rate of pct the bank of england s announcement was quickly followed by barclays bank and national westminster bank which announced a half point cut in their base rates to pct from pct dealers said the lowering in base rates had been widely expected following yesterday s u k budget in which chancellor of the exchequer nigel lawson announced a three billion stg cut in the government s public sector borrowing target for to four billion stg many in the market had expected a full one point cut in base rates today but some were not surprised by the authorities caution dealers added reuter 
