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Do not raise Bank of England base rate.

Submitted on Wednesday 20th August 2014

Rejected on Wednesday 21st June 2017

Current status: Rejected

Rejection code: irrelevant (see below for details)

Petition Action

Do not raise Bank of England base rate.

Additional Information

While I accept Interest rates are set independently. I simply don't accept that there's a strong case to raise interest rates. People's disposable incomes are not increasing above inflation. Increasing rates will kill off the recovery. Interest rates must be debated in parliament, together with an orchestrated media campaign to stop the rise for at least 12 months. Businesses' cashflow will also be affected, and, ironically we, the taxpayer will have more interest to pay on the current budget deficit.


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This petition was rejected

The Government e-Petitions Team gave the following reason:

The Monetary Policy Committee (MPC) of the Bank of England has operational independence for monetary policy, and any decision on Bank Rate is therefore for the MPC.

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