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Tag: Bank of England

UK Interest Rates hold steady

UK Interest Rates hold steady

As was widely anticipated, it seems like the UK Interest Rates have remained fixed at 0.5%, the historic low they had dropped to in March this year. This is good news for people on tracker mortgages as it means their mortgages are still costing them very little. However, there’s a concern for home owners that new mortgages at those rates are impossible to find and people are getting locked into higher rate mortgages. Does this translate into more profit for…

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Plummeting Interest Rates

Plummeting Interest Rates

I’ve just got a promotional email from one of the internet banks I bank with and it interestingly had a table showing the drop in Bank of England interest rates over the last year: Bank of England Base Rates Effective from Base rate 10 April 2008 5.00% 8 October 2008 4.50% 6 November 2008 3.00% 4 December 2008 2.00% 8 January 2009 1.50% 5 February 2009 1.00% 5 March 2009 0.50% It must be pretty distressing for people living off…

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