UK Interest Rates

UK Interest Rates are shown in the chart below, which has been generated from Bank Of England data. It is the rate at the year end that has been recorded.

It's interesting to note the number of changes to the base rates when preparing this chart. In 1982, when Geoffrey Howe was Chancellor, he made 36 interest rate changes and in second place came Denis Healy in 1977 with 18 changes which saw a devaluation of the Pound and he had to go cap in hand to the IMF for a loan! Since 1997 when the Bank of England became responsible for setting rates rather than the Chancellor, the UK has averaged just under 4 changes a year - much more stable.