Interest rates likely to remain on hold into 2015

According to an e-mail sent by Ben Brettell, senior economist at Hargreaves Lansdown, today’s action gives the Monetary Policy Committee (MPC) interest rates likely to remain on hold into 2015 and thus remaining at an all-time low of just 0.5%: “Despite Mark Carney’s recent comments that interest rates could rise sooner than expected, I believe they will remain on hold well into next year.”

If interest rates remain on hold well into 2015, as Brettell suggests, this would be good news not only for those with mortgages, but all businesses who could struggle with a rise in interest rates.

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