The Bank of England has today announced that they are to hold UK interest rates at their historically low rate of 0.5% for another month. This is great news for businesses in the area but not so for savers who have taken the brunt of low interest rates over the last few years.
As these are the lowest interest rates seen for a very long time, people should expect a rise at some point in the near future. The Bank of England has said that any rate rises will be gradual.
As with anything like this we’ll have to wait and see and will report on it as and when it happens, however the general feeling is that that they will be going up at some point in 2014.