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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.

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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