| Interest Rates in the United Kingdom are set by the Monetary Policy Committee of the Bank of England, which is also called the repo rate. UK interest rate is applied in open market operations of the Bank of England and other institutional parties such as banks, securities firms, etc. |
UK Interest Rate
| The Bank of England opted to leave interest rates unchanged at record lows of 0.25% after policymakers voted by five to three. Concerns over inflation overshooting target and slow wage growth and personal spending still persist as reiterated by bank officials. UK government bond purchases will remain at £435 billion. Interest Rate in the United Kingdom peaked at an all-time high point of 17% in November of 1979 and hit rock-bottom at 0.25% in August of 2016. |
