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Bank of England (BOE) Interest Rate (UK)

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2011 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
2010 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
2009 1.75% 1.25% 0.75% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
2008 5.50% 5.50% 5.25% 5.25% 5.0% 5.00% 5.00% 5.00% 5.00% 4.75% 3.75% 2.50%
2007 5.25% 5.25% 5.25% 5.25% 5.50% 5.50% 5.75% 5.75% 5.75% 5.75% 5.75% 5.50%

*The readings in table are for the month the release is measuring.

January 12th -

From UKPA: Interest rates were kept at a record low of 0.5% while the Bank’s quantitative easing (QE) programme remained at £275 billion following the increase of £75 billion in October. The no-change decision came despite a call from the British Chambers of Commerce to increase its support with a £50 billion top-up to QE, following October’s shock increase.

Ian McCafferty, chief economic adviser at business body CBI, said: “Today’s decision by the MPC to leave monetary policy unchanged was expected, since the current round of asset purchases is not yet complete.

Holding interest rates at 0.5% will be welcomed by borrowers, but the extended period of lower lending costs spells more misery for pensioners and savers, who will continue to suffer low returns on their money at a time when inflation is eroding the value of their deposits.

 

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