The Monetary Policy Committee (MPC) of the Bank of England held its normal monthly meeting yesterday, to discuss, amongst other things, the base rate of interest for loans and savings in the UK and it came as no great surprise to anyone that loan rates were kept on hold for another month. The base rate of interest has now been fixed at just 0.5 per cent for a total of 32 months, since it was reduced to the currently extremely low loan rate back in March 2009
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