Bank of England keeps interest rates on hold

bank of england interest rate

The Bank of England (BoE) yesterday announced that the interest rate was to remain at 0.5%, they voted by a majority of 8-1  to maintain the present Base Rate.

This was the  the first meeting of the Bank of England’s Monetary Policy Committee (MPC) following the UK’s momentous Brexit decision,  it was also the first rate decision to be announced under the new Prime Minster Theresa May.

This was  good news for mortgage borrowers on a variable rate deal as the Base Rate influences wider interest rates, it is unlikely that they will see an increase in their mortgage pay rate in the near future.

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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