Low Interest Rates Remain, As Banks Are Encouraged To Hold Their Nerve

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Inflation is rising in the UK, however The Bank Of England has been encouraged to hold on to low interest rate.

The news comes as The Bank Of England announced that they were going to keep the base rate at 0.5% last week. The interest rate was cut when Britain was in the middle of the recession.

“Views on when rates will start to rise again are mixed, although only one member, Andrew Sentance, of the Bank’s Monetary Policy Committee (MPC) – the group which makes the decisions on rates –has voted to increase the interest rates. “

Click on the link below to read the article in full on moneyfacts Website:

>Bank urged to hold it’s nerve on interest rates

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