Bank base rate held at 0.5%
The Bank of England have once again voted to keep base rate at 0.5% for December. The Bank's Monetary Policy Committee have now kept interest rates on hold for 21 months.
A poll of economists in December by Reuters, estimated that the next base rate rise would be in October next year and that base rate would rise to 0.75% by the end of 2011.
The same poll a month earlier estimated that the rate would rise to 1% by the end of 2011. In April, the prediction was for base to be 2% by the end of 2011.
This illustrates how far estimates have changed and some economists do not expect a rise before 2012.
December 9, 2010
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