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Do ECB interest rates influence the UK?

A rise in ECB interest rates can have a transitional impact on the UK despite the UK having left the EU banking system. The governing council’s recent interest rate hike increased the MRO, marginal lending, and deposit interest rates to 4.25%,4.50%, and 3.75%, respectively.

MPC leave interest rates unchanged

In a week when the fragile nature of Brexit was exposed, it was welcoming to see the Bank of England Monetary Policy Committee (MPC) announce unchanged UK base rates. Rates currently stand at 0.1% although there had been speculation of a dip into negative territory in the short-term. The MPC minutes cover a range of different subjects, giving insight …

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What is the outlook for UK interest rates in 2021?

Since the 2007/8 US sub-prime mortgage crash, which resulted in a worldwide depression, UK base rates have remained at or around historic lows. During 2018/19 there were fleeting hopes that interest rates would start to move higher, and eventually return to more “traditional levels.” However, in light of Brexit and COVID, it is safe to …

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