Summary
The chief economist at the Bank of England has abandoned his attempts to raise UK interest rates from their record low of 0.5%.
The dramatic U-turn by Spencer Dale, and his fellow Monetary Policy Committee (MPC) member Martin Weale, underlines the troubles facing the UK economy and reinforces the likelihood that there will be no rise in base rates for the foreseeable future. Their shift is good news for those on base-rate tracker mortgages.See the full content of this document
Extract
U-Turn Over Rates
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