base rate News

The minutes from the latest Monetary Policy Committee at the Bank of England have shown today that for the first time in a long time there was unanimous support to keep the base rate at 0.5% for the 29th consecutive month.

It has been confirmed: the inflation rate is record high. It is due to the tax increase and the fuel price hike in the UK. But what does that mean for people with bad credit? Less options available to get rid of debt.

The base rate in the UK has not been changed since 5 March 2009, for a total of 21 months. But what does that mean for people who have bad credit or are struggling to pay their debt?

“The last time we saw such a drastic shift in financial habits was at the height of the credit crunch” said a spokesperson for Bad Credit Loans 4 You, a specialist at sourcing credit loans for people with bad credit.

Latest Young Index results, for Q2 2010, point to a softening of the 12 month base rate expectation from buy-to-let investors.

The Bank of England’s decision to hold the Base Rate at 0.5% for the 13th consecutive month came as no real surprise given the weak economic backdrop and a reduction in the headline inflation rate. This is unlikely to change in the short term.

It is widely predicted that the UK’s Bank of England Monetary Policy Committee (MPC) will announce a further cut in base rate following February’s rate setting deliberations.

It is widely predicted that the Bank of England's Monetary Policy Committee (MPC) will hold the base rate steady at 5.00% when it announces the outcome of its deliberations on 7 August.

As widely tipped, the Monetary Policy Committee (MPC) today announced that the base rate has been reduced to 5.00%.

As widely predicted, the Monetary Policy Committee (MPC) today announced that the base rate will remain at 5.25% during March.