NATIONAL WESTMINSTER BANK CUTS BASE RATE National Westminster Bank Plc said it has cut its base lending rate 0.5 percentage points to 10.5 pct today. National Westminster said that it was responding to general easing in money market rates. Its move followed a signal from the Bank of England earlier this afternoon that it would endorse a half point cut in the base rate, a surprise move following its strong signals last week that such a move would be premature. However, since then the pound has continued to gain strongly.