Bank Base Rate to stay at 0.5% until 2016 (…probably)
Mark Carney, the Bank Of England’s new Governor, has announced his ‘forward guidance’ that the Bank does not intend to raise Bank Rate from 0.5% until the unemployment rate falls to 7%, which it forecasts will happen in mid 2016 — three years away. The Governor hopes that the announcement of this 3 year plan […]