How often does the base rate change?
The Bank of England base rate is set by the Bank of England’s Monetary Policy Committee (MPC), normally eight times a year. The base rate is there is to keep things in check and it changes as and when the Bank of England feels it is right to do so.
Most recently, August 2018’s base rate increased by 0.5% to 0.75%. This announcement by the Bank of England could impact those borrowing money, for example those with variable rate mortgages.
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