Base rate stays at 5.25% |
Despite some suggestion that the rate may have risen again this month, the Bank of England has today voted to keep the base rate at 5.25%.
This should please those on variable rate mortgages, while those soon coming to the end of 3yr fixed rate deals may have to find more money each month since the base rate was at 3.75% 3 years ago.
The Bank will release minutes from the meeting on 21st Feb, which will contain the vote spread across the members of the rate setting committee. This is often a good indicator for which way the rate is likely to head in the future.