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There is no change in the interest rates that small businesses pay. The Bank of England has once again frozen base rate interest. In the 24th month in succession, the Monetary Policy Committee decided to keep the rate of interest at 0.5%. Experts warn that the rate of interest is set to rise in the near future. The increase in Consumer Price Inflation by 0.4% to 3.7% is a cause for concern. Economists agree with the government’s decision to keep base rates at 0.5% as it would help in the country’s efforts at economic growth. The Confederation of British Industry (CBI) predicts a modest growth in 2011.
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