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BoE cut interest rates to new historical low

August 4, 2016Article by Chelsea Battle

The governor of the Bank of England, Mark Carney, has announced a historical low on interest rates, now at 0.25%. This has been the first cut in rates since March 2009. Although this cut is good news for borrowers, it could be bad for those who have been saving for a long time or with a fixed mortagae.

The property industry was among the first to react.

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