The Bank of England base rate of interest for savings and loans has now been at a historically low level of just 0.5 per cent for more than two and a half years now, with many borrowers accepting their current cheap loan rate as a normal thing. For several months now, there has been much speculation within the finance and loan industry as to when there will be a change in interest rates, with the only area that most experts have agreed on is that, when they do eventually change, loan rates will increase, rather than fall further. But, ahead of the Bank of England’s Monetary Policy Committee (MPC) meeting this Thursday, there is a growing amount of speculation amongst financial experts, that the Bank may actually lower loan interest rates once again at its next meeting.
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Are Loan Rates About To Get Cheaper?
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