BoE Base Rate Unchanged

For the 28th month in a row the Bank of England bank rate has been held at 0.5 per cent. The last time we had a change in interest rates was way back in March 2009, when it was reduced from 1 per cent down to it's current record low. 

For the 28th month in a row the Bank of England bank rate has been held at 0.5 per cent. The last time we had a change in interest rates was way back in March 2009, when it was reduced from 1 per cent down to it's current record low.

The minutes from last months June meeting of the Monetary Policy Commisson show its the members have swung further in favour of keeping base rate at their current record low level.

Financial commentators are speculating that with markets being worried about the crisis in europe that the likelihood of the MPC increasing the Bank Base Rate will diminish with many suggesting it may now be next year before we see any increases. 

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