There was a little bit of good news yesterday, for all those home owners in the UK who are struggling to pay off their personal loans and credit card bills after their Christmas overspending, when it was announced that the base rate of interest for loans and savings was to remain on hold for another month. The announcement was made following the regular monthly meeting of the Bank of England’s Monetary Policy Committee (MPC), when it was decided to keep loan rates on hold and also not to extend the current programme of quantitative easing. The base rate of interest will therefore have remained at its historically low level of just 0.5 per cent for a total of 34 months now, since March 2009, when most people thought that the cheap loan rate would only last for a very short time
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Loan Rates Remain On Hold
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