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Can you remember the path of UK base rates?

While UK base rates seem to have been stuck at 0.5% for ever and a day, can you remember where they were one year ago, two years ago or even three years ago?

It will be no surprise to learn that UK base rates were 1.5% back in January 2009 but did you know there were as high as 5.5% back in January 2008 and slightly lower at 5.25% in January 2007. The recent peak for UK base rates came in July 2007 when the rate was improved by 0.25% to 5.75%. This came just prior to the credit crunch which happened in the latter part of 2007, when suddenly the worldwide economy shuddered to a halt and governments around the world were forced to take evasive action.

It is very easy to forget where we have come from with regards to the UK economy and UK base rates because the focus at the moment is very much on today and the future. However, many lucky investors will remember the period prior to the economic collapse when the UK economy, and the worldwide economy, were enjoying one of the longest boom times in living history. This was a period of economic activity during in which nobody could see any downside and everybody was buying stocks and properties, even though valuations had risen to uncomfortable levels.

When the markets turned many investors ran for the hills and then the trouble began!

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