Taxing Business

UK interest rates remain at 0.5 percent

The Bank of England (BoE) has left the United Kingdom’s interest rates at half a percent for the tenth month in a row.

Following the latest Bank of England meeting, a decision was made to keep interest rates in the UK at half a percent, a record low that has been held since March 2009.

The rates are being held at their current level until the BoE’s Monetary Policy Committee (MPC) can determine the outcome of the next inflation report, which is due in February. It is expected that the UK came out of the recession in the end of 2009, but until the results of the report are revealed, the MPC doesn’t want to take any chances.