Freeze goes on as base rate chalks up a year at 0.5%
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The Bank of England base rate has now been at a record low of 0.5% for a year, following the Monetary Policy Committee’s decision to keep rates on hold last week.
The MPC also decided not to extend its quantitative easing programme beyond the £200bn it has already spent. The Bank is assessing how successful its policy of buying up assets to boost economic growth has been before putting any more money into the programme.
Ray Boulger, senior technical manager at John Charcol, says: “It seems low interest rates will be with us for some time so trackers must be the best choice for most clients at the moment.”
