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Inside the mind of the Bank of England: how it sets rates
It's decision time. On Thursday, Bank of England policymakers will reveal its interest rate decisions. How the nine members of the Monetary Policy Committee (MPC) vote will affect households and businesses across the UK. That's because the Bank of England base rate is used as a reference point for millions of mortgages and savings accounts. Higher rates would hit borrowers - but benefit savers. Interest rates are at a record low of 0.25% and there has not been a rise in interest rates in more than a decade. The Bank's job is to try to keep inflation at about 2%. The fall in the value of the pound pushed up the ... (full story)
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Beware of robber banks (RB), bad advisors.