Interest Rates Update: Sticking To 0.5%?

For 27 months interest rates have been at 0.5%. Analysts are expecting a rate rise soon, but most feel that the country is not ready for one yet. We will know later on.

The Telegraph business reporters say that the Bank of England are likely to keep rates low, and they are usually spot on the money.

A rise in interest rates will hurt many households as well as businesses which are still struggling. In a week when the health care industry is officially failing with closures of nursing home and new increases in the energy sector (Scottish power increasing prices by 19%), along with reports that food bills have increased by 5% in the last year and petrol increased by around 15%, an interest rate rise will probably cause more harm than good.

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