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Bank of England keep UK interest rates at record low

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Bank of England keep UK interest rates at record low

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Posted on: 06/03/2014

The Bank of England has today kept UK interest rates at 0.5% for another month.

The decision, take by the Bank’s Monetary Policy Committee, comes five years after the record low level was first introduced.

It is the first rate decision since the bank amended its “forward guidance” policy that linked borrowing rates to unemployment figures.

And the rates are unlikely to rise before the spring of 2015.

The five years of record low interest rates has seen returns on savings hammered, but many mortgage borrowers have been delighted, as they have reaped the benefits of lower repayments.

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