Interest rates still at 0.5% after 6 years

The Bank of England Base Rate has now been at a record low of 0.5% for six years, and there is no real indication that this will change much short term. it expects inflation, as measured by the Consumer Prices Index, to head back up to the Government target of 2% by the first quarter of 2017.

Forecasting when interest rates will rise is no simple task at the moment, the Bank of England sticks to its mantra that interest rate rises will be “limited and gradual”, the Bank  has  a slight majority of forecasters predicting the beginning of next year in the Inflation Report.

Those people looking to take out a mortgage or remortgage, fixed interest rates continue to fall, as borrowing costs are cheap and lenders are keen to attract borrowers before rates do rise.

Allen Walkey

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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