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Could UK base rates remain unchanged until 2012?

As the threat of inflation begins to recede, with evidence that factory prices are turning downwards, many people are now looking towards UK base rates and the next increase. A number of economists believe that there is no chance of the base rate rise within 2010 and indeed a number are now looking towards 2012 and beyond before UK base rates will increase. So could UK base rates remain unchanged until 2012?

There is no doubt that the ongoing economic difficulties in the UK, and around the world, are deep seated and long-lasting. As many people warned when the UK economy turned downwards, this particular type of economic downturn is very different to the traditional boom and bust scenarios. We have seen some of the more prominent financial institutions around the world fall by the wayside, we have seen banking sectors struggling to survive and indeed we have seen governments around the world ploughing billions upon billions of pounds of taxpayer's money into their local economy.

The after-effects of the worldwide recession, brought on by the credit crunch, will last for many years to come and many people will be surprised at how deep the problems are buried.

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