Wednesday, June 22, 2011
Long historical view of Bank base rate
The chart on p3 shows how extraordinary the current 0.5% base rate is when viewed from a long historical context. Base rate has been between 3% and 5% for almost all of the Bank of England's 300 year history. It must surely move back there, if not higher, within a very few years. This chart would I think be a good addition to the 'Graphs' section of this web site - how about it, moderators?