Central Bank Rate Remains Frozen

The Bank of England will keep the base rate at 0.5 per cent for another three years in a move that cripples cash-strapped savers, say leading analysts.

The prediction by Capital Economics came as the Bank revealed it was yet again freezing the base rate at the lowest level in its 318-year history.

It coincides with the third anniversary of the cut to 0.5 per cent in March 2009 – and raises the prospect of the base rate staying at this level until 2015.

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