Base rate stays at 0.5% |
The Bank of England has just announced that the base rate will stay at its historic low of 0.5% this month.
Whilst this is generally good for people on variable rates, new fixed rates deals are still hovering above 4% even with hefty deposits. Since the base rate can only really go up from here, and is likely to before long, it is unlikely that fixed rates will get any lower.
