Base Interest Rate remains at 5%

The Bank of England has opted to keep its interest rate at 5%, pausing after 14 consecutive hikes aimed at controlling persistent inflation. The decision reflects the central bank’s cautious approach as it balances inflation concerns with signs of an economic slowdown.

For SSAS borrowers, the decision means that the minimum interest rate remains at 6%, as per HMRC rules, which mandate that connected loans must be set at least 1% above the base rate of the leading high street banks.