Ruth Mitchell

Interest rates to stay until 2012

Interest rates are set to remain unchanged until 2012, according to a poll of economists.

The BBC reports that 26 out of 32 economist polled believe rates will not rise this year, and three even predicted there would be no increase until 2013.

When the rise does come, many believed that rates would rise from 0.5 percent to at least 1.5 percent.

While the current interest rate level is affecting savers, home-owners are finding it easier to meet their mortgage payments.

This news comes after the Monetary Policy Committee voted last month to hold rates at 0.5 percent. It has also been stated by policymakers that interest rates are unlikely to rise in the short term due to the weak economy.

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