Interest rate rise?

Let me remind you what an unusual period that the last few years have been for interest rates say Harris & Co accountants Northampton. When it was cut to the current 0.5% in March 2009, base rate had never been as low as that since the Bank of England was founded in 1694.

 

The previous record low for base rate was 2%. In 1694, base rate was 6%.

 

This is now the longest period of unchanged interest rates since the Great Depression and the Second World War. In 1931 there was a cut in interest rates to 2% and it did not change until 1951.

 

With this background and a strongly recovering economy, it seems only matter of time before interest rates rise.