Political

Good thing that getting interest rates right isn’t anything important where experience may help

From the Parliament website:

Following the worst financial crisis in a century and the longest downturn on record, the Bank of England cut its official interest rate (known as the Bank Rate) to 0.5% in March 2009, the lowest level in its 320-year history.

The rate has remained unchanged ever since. None of the nine members of the Bankโ€™s interest rate-setting body, the Monetary Policy Committee (MPC), was on the MPC the last time interest rates were changed.

Good thing it’s so well known that experience is a hinderance then…

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