Blog

For the 18th month in a row, the Monetary Policy Committee, or MPC, have decided to hold interest rates steady in the UK at 0.5%. This decision has been largely praised by financial analysts who don’t believe that inflation is a major concern at this time. For the average UK citizen, who is probably relying on payday loans a lot more than he should be, this news isn’t going to have a major effect on everyday life. However, its longterm implications could be significant. Still, analysts hope that keeping interest rates low will spur additional economic activity that will help speed up economic recovery. Will it be enough? Given many other factors, the answer to that question is far from certain. (more…)