The Bank of England has announced this afternoon that the base rate will remain unchanged at 0.5%, widely following market predictions. This is good for those with certain kinds of debt (such as SVR tracker mortgage holders and student loans), but will continue to have negative impact on saving rates and virtually no impact on other borrowing such as loans and credit/store cards.

I’m still formulating an opinion on the latest rate announcement. I think it is deserving of its own post in a few days when I have got some figures worked out.

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