Business Development: “New normal” for interest rates will be below 3%

Interest rates could stay below 3% even after full economic recovery, according to David Miles of the Bank of England’s Monetary Policy Committee.

According to Miles, who spoke at Queen Mary College, London, on 27/2, the “new normal” for Bank of England interest rates will probably be well below its previous long-run average of 5%.

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Posted Friday, February 28th, 2014

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