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Manchester Evening News
Manchester Evening News
Business
Kieran Isgin

Bank of England to make interest rates announcement this month - what to expect

Bank of England Interest Rates Swati Dhingra United Kingdom

The Bank of England is getting ready to announce the results of its review of the Base Rate in the coming weeks.

Any changes to the Bank's interest rate could have a major effect on people's personal finances. This is because the Base Rate is often used as a reference for how much you could be charged on paying back loans, mortgages, and savings accounts.

While most of the past year had seen a consistent rise in interest rates, this may soon change according to some insiders. In February, the Bank decided to increase the Base rate to 4 per cent - resulting in a rise of 0.5 per cent.

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