Interest Rates Frozen Again
Published / Last Updated on 07/03/2014
Interest Rates Frozen Again.
At the risk of repeating ourselves for the 60 month in succession, the Bank of England Monetary Policy Committee met again yesterday and confirmed that it was to hold base rates at 0.5% per annum.
It is 5 years now that interest rates have been held at 0.5% and we have suggested many times that rates are unlikely to increase until after the next General Election, to be held by May 2015 at the latest.
Comment
The economy is still unstable and we cannot see any changes for another year. House prices will continue to rise and businesses will continue to have confidence to borrow knowing that costs are stable for the time being.