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Thursday, September 09, 2010

Interest Rates Remain At 0.5%

The Bank of England's Monetary Policy Committee (MPC) has left interest rates unchanged at 0.5%, they have been at this level since March 2009.

Ironically, as those with debts or who are trying to borrow money may have noticed the cost of borrowing has not remained static during this period but in fact risen.

Funny that, isn't it?

Still, the banks have to make money somehow!

Additionally, the MPC has left its £200BN quantitative easing programme unchanged.

So much for the media hysterics who have been talking up interest rates of 8% within 2 years.

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