Is this the week when UK interest rates might finally rise above 0.5%?
by Phillip Inman from on (#3VRFS)
The Bank of England cut borrowing costs hard in 2008 and left them low. Now, after some false dawns, that might be changing
The Bank of England's interest-rate setters are expected to vote on Thursday to raise the cost of borrowing for only the second time since the 2008 crash. Most City analysts agree: the Bank's base rate will rise from 0.5% to 0.75%.
That said, we've been here before. Mortgage borrowers were told in February that a rate rise was imminent and were guided by governor Mark Carney to pencil in the May meeting of the monetary policy committee (MPC) as decision day.
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