Bank of England Base Rate Is Held at 0.75%

Bank of England Base Rate Is Held at 0.75%

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 20 March 2019, the MPC voted unanimously to maintain Bank Rate at 0.75%.

This is great news for borrowers as payments will be unlikely to increase dramatically.

It was expected that the bank would raise the interest rate once Britain exited the EU with a deal and transition period in place but the continued uncertainty has resulted in what will be a welcome reprieve for mortgage holders.

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