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UK Interest Rates Are Heading In Only One Direction

The latest decision of The Bank of England on interest rate brings down on to the 8th anniversary of collapse of US investment bank Lehman Brothers and it was the lowest interest rate among the previous 100 years. The borrowing cost in UK was 5% and it was cut up to 0.5% by Bank of England's monetary policy committee in 2009.

The bank considered to cut the interest rates from 0.25% to 0.1% in September 2016. That was a shocking news for the marketing agencies of UK. It was the fact to bring the British exit from the European Union when they couldn't explain why bank cut interest rates before the Christmas day.

After this huge shock for the Bank of England, they started doing work on the interest rates of UK and they showed that Office for National Statistics will show growth in interest rates up to 2% and it will rise up to 3% after getting more data. It shows that interest rate of 0.1% is not dead but after it better economic news can brought after a few weeks.