HBOS to pass on Bank cuts in full

LONDON (Reuters) - HBOS said it will pass on any Bank of England rate cuts in full on its tracker mortgage products, ahead of the central bank's decision at 12:00 p.m. on Thursday.

The Bank is expected to cut interest rates to their lowest level in more than half a century after a surprise 1.5 percentage point reduction to 3 percent last month.

HBOS said it will wait until the Bank decision before considering any change to its standard variable rate.

"As always, no decision will be taken on the Standard Variable Rate (SVR) until after a decision by the Monetary Policy Committee," said HBOS.

(Reporting by Lorraine Turner)