Base rate held for six consecutive years

by Aaron Strutt

Mar 04 2015

The Bank of England's Monetary Policy Committee has voted once again to maintain base rate at 0.5% marking the sixth anniversary of record low rates.

Committee members have already explained the next base rate move is likely to be an increase, but they have left the door open for another reduction if necessary.

In the meantime millions of borrowers with cheap tracker mortgages will be pleased we are at this latest milestone.

The European Central Bank has raised its growth forecasts to 1.5% this year and 1.9% next year. Meanwhile Ukraine’s central bank has announced it will be increasing its base rate from 19.5% to 30% in a move to curb inflation and support its currency. 

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