Bank Base Rate Held At 0.5%

October 8, 2009subedar1 No Comments »


The Bank of England held rates at 0.5% and to continue with its £175bn quantitative easing programme.

Optimistically, Roger Bootle of Capital Economics predicted that rates would stay at this level for 5 years.

The house buyers preferred choice at the moment is for tracker mortgages anticipating that rates will stay low for some time.

The no change decision is good for the fragile recovery of the housing market.

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