Interest Rates Frozen 7 Years in A Row
Published / Last Updated on 11/05/2016
Interest Rates Frozen 7 Years in A Row.
The Bank of England Monetary Policy Committee (MPC) met today and again kept interest rates at 0.5%pa. It has been at this level for 7 years now.
Comment
This was widely expected and we do not see any changes ahead of the EU Referendum. That said, if there is a ‘leave’ vote, we do expect an emergency budget with potential tax rises on individuals and cuts in tax on business to encourage trade into the UK.