possibility of zero interest rates

June 14, 2016
bank of england interest rate

Projections on the financial markets are now suggesting that interest rates in Britain will not reach 0.75% until May 2020, some experts are infact warning that the Bank of England could even cut rates to zero in the next 12 months.

Rates have remained at an all time low now of 0.5% since March 2009, global uncertainty is strongly influencing decision makers to keep interest rates at this all time low.

The Bank of England Monetary Policy Committee, is widely expected to leave interest rates unchanged when it meets later this week.

It is very likely that the Governor of the Bank of England, Mark Carney, will warn of the negative effects of “Brexit” when he makes his speech following the monthly rate decision. there are many in the leave campaign including UKIP’s Nigel Farage who dismiss the warnings as scaremongering.

The polls are running neck and neck in the lead up to the vote on the 23rd June, the undecided will be key to the outcome.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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