Chart: Bank of England Base Lending Rate Against the UK Inflation Rate, since 1948

A historical chart showing the UK’s monetary battle with inflation. It tracks the wielding of the Bank of England’s base lending rate against the Retail and Consumer Price Indexes, from June 1948 to the present day.

December 2021 On 16 December 2021, the Bank of England’s Monetary Policy Committee voted to increase the Bank’s base lending rate from a record low of 0.1 per cent to 0.25 per cent. Markets had expected an increase back in mid-November but the Bank opted to hold position. The increase in December was seen as…