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In the UK, interest rates are set by the Monetary Policy Committee (MPC) of the Bank of England. The MPC is responsible for formulating and implementing monetary policy, including setting the official bank rate, which is the interest rate at which banks can borrow from the Bank of England. The MPC’s main goal is to maintain price stability and support economic growth.
Learning financial topics and understand how it actually impacts you personally can be daunting, but our mobile app makes it easier to understand a variety of effects such as interest rates, inflation and taxation on your long-term savings.
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