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The Bank of England has voted against a further cut to interest rates, after the latest UK inflation figures remained stubbornly high.. The nine rate-setters on the Bank’s Monetary Policy ...
The Bank of England has cut interest rates for the second time this year, in good news for mortgage-holders and other borrowers.. Policymakers at the Bank of England opted to reduce interest rates ...
The name and meaning (depositing vs lending) of this key interest rate has changed over the years. The current name, Official Bank Rate, was introduced in 2006 [7] and replaced the previous Repo Rate (repo is short for repurchase agreement) in use since 1997. Previously (between 1981 and 1997) the name was Minimum Band 1 Dealing Rate and prior ...
The Bank of England has held interest rates at 4.75% in December - following two falls in 2024. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
Country or currency union Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate
Bank rate, also known as discount rate in American English, [1] and (familiarly) the base rate in British English, [2] is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as ...