Base rate held at 0.5 per cent

Covered mag, presented by
  • | by Kristian Dando
The Bank of England’s Monetary Policy Committee has voted to keep interest rates at a historic low of 0.5 per cent, the same level it has been at for the past two years. Speculation grew earlier this month that a rise in interest rates was in the realms of possibility after three of the committee voted in favour of an increase in February. The Confederation of British Industry also suggested last year that the steep rise in inflation would mean that rates would rise during Spring 2011.