Sky News

The Bank of England has maintained a record low interest rate of 0.5% since 2009, benefiting businesses by enabling growth and investment. However, this has posed challenges for savers and pensioners who face financial constraints. The Monetary Policy Committee took extreme measures during the economic emergency, and while the economy has stabilized, there is concern about future interest rate increases and their impact on repossessions. The Bank of England faces the challenge of gradually returning to normal economic conditions.

What was the Bank of England's decision regarding interest rates during their monthly meetings?

• To fluctuate the rates monthly

• To decrease the rates to 0%

• To keep the rates at a record low of 0.5%

• To increase the rates significantly

How did First to Print benefit from the low interest rates?

• By reducing their workforce

• By investing in better quality equipment

• By closing down some branches

• By increasing product prices

What challenges did low interest rates pose for savers and pensioners?

• Higher returns on investments

• Increased savings

• Need to cut down on expenses

• More travel opportunities

What was the response of the Monetary Policy Committee during the economic emergency?

• They took no action

• They implemented extreme measures

• They focused on tax reductions

• They increased interest rates

What is the expected future challenge for the Bank of England regarding interest rates?

• To keep rates at 0.5% indefinitely

• To decrease rates further

• To ease the country back to normality as rates rise

• To eliminate interest rates completely