At just 0.5%, we’re currently experiencing the lowest rate of interest since the Bank of England was founded back in 1694. Why not check out each and every interest rate since its beginning, courtesy of new data released by the Guardian.
The Bank of England has decided to halve the UK interest rates to a new all-time low of just 0.5%.
Might be a little late for this poll, but what the heck. The Bank of England will make its monthly decision on interest rates tomorrow (Thursday 5th March), with rates currently sitting at the lowest ever rate of 1%.
A lot of media analysis of today’s interest rate cut to 1.5% has been negative, focusing on the fact that it won’t mean the banks will lend more to businesses and consumers or get more foreign investment in. But what positives can be take from today’s announcement?
As expected, the Bank of England has cut the UK interest rate to a 315-year low of 1.5%.
This is the first time that rates have gone below 2% since the BoE was founded back in 1694, and reflects the fears of slowing inflation and possibly even deflation.
The Bank of England has today decided to cut interest rates, taking them down to just 2%.
When you’re approaching the end of your mortgage deal (for example, a discounted or fixed rate of interest), the general advice is to find a new deal as soon as possible.
But given current interest rates, this might not be the best decision, as your lender’s Standard Variable Rate might actually be a viable option for the short term.
Whenever there is a cut in interest rates, we often start talking about how homeowners will benefit with reduced mortgage repayments. Of course, things aren’t as cut and dried as that – there are winners and losers.
The Bank of England has cut interest rates by 1.5%, down to 3%, the lowest level since 1955.
7 central banks, including our very own Bank of England, have agreed to cut interest rates.