GCF - Bank Base Rate



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Bank Base Rate

Bank of England Base Rate

Date	Rate
Aug 2010	0.50%
Jul 2010	0.50%
Jun 2010	0.50%
May 2010	0.50%
Apr 2010	0.50%
Mar 2010	0.50%
Feb 2010	0.50%
Jan 2010	0.50%
Dec 2009	0.50%
Nov 2009	0.50%
Oct 2009	0.50%
Sep 2009	0.50%

Each month the Bank of England's Monetary Policy Committee meets to discuss issues surrounding the economy and in particular the likely effects on Inflation. At that meeting they also set the Minimum Lending Rate (MLR). This was originally introduced in 1974 and is the minimum rate of interest charged by the Bank of England to commercial banks should they need to borrow money. Changes to the MLR has the effect of determining changes in the rates of interest charged by commercial lenders when lending to businesses or to members of the public.

The table gives details of the last 12 decisions regarding the MLR by the Bank of England. Each line shows the rate decision for the month, the arrows indicate whether the rate is different to the previous month's figure and if in what direction.

Source: Bank of England.

The information on this page has been sourced from the Bank of England website. We do not represent that the information it is accurate or complete, and it should not be relied upon as such.

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Website last changed: 15/07/2008