Interest rates low – 10 Year Anniversary

Finance

Interest rates low – 10 Year Anniversary

It’s been ten years since the last UK interest rate raise.

On 5th July 2007 the Bank of England raised rates to 5.75% and now, ten years later, the rate is 0.25% with the next UK rate decision due on 3rd August 2017.

By all accounts, the lowering of rates in 2007 was meant only to be a temporary situation – but here we are ten years on.

Surely, it has to be time to get rates back to a more normal level, whatever normal may mean now?

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