News - UK Interest Rates 2010
September 2010 - The Bank of England have decided
to hold the UK interest rate at 0.5% yet again. Economists had predicted
this no change reaction, in view of the slow recovery in the economic
situation.
August 2010 - The UK interest rate has been
held again at 0.5% as predicted by many economists. The low rate of
0.5% has been in place since March 2009, and it seems unlikely to rise
in 2010. Some economists believe that we may not see the interest rate
rise until 2014. Consumer confidence is falling as many public sector
jobs are predicted to be lost as part of the government's attack on
public spending, in an effort to reduce the UK's deficit.
July 2010 - Economic forecasters are predicting
that interest rates are likely to stay at 0.5% at least for the next
4 years. They have remained at 0.5% since March 2009. According to financial
experts the UK interest rates need to be held low to allow the economy
to recover. The government's plan to tackle the deficit - with tax increases,
including January's VAT rise (The standard rate will rise from 17.5%
to 20% from 4 January 2011) and public sector job losses - make it important
to keep interest rates low. Inflation is expected to drop.
April 2010 - No change again. The economy is still slow and
the Bank of England don't want to jepardise any recovery...and there's
an election approaching.
March 2010 - Analysts predict that the Bank of England
will keep the interest rate at 0.5% for 2010, due to the economy's slow
recovery.
February 2010 - Still no change as rates remain at half a percent
for the last ten months.
UK Interest Rates for 2009
and 2008
November - December
2007 Base Rates
October 2007 Base Rates
September 2007 Base Rates
August 2007 Base Rates
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