Good news for mortgage payers as the bank of England has decided to hold the base interest rate at 0.5% for april 2010. The news is hardly surprisingly considering house sales are still down and the fact that we are still moving out of recession. The decision on the bank of england base interest rate next month is to be held until after the election, which takes place on May 6th. However regardless of the outcome of the election it is still thought that the base interest rate will stay low until economy fully recovers.
In summary bank of england base interest rate still to be kept low at 0.5%