Commenting on the announcement, Residential Mortgages Managing Director at Aldermore, Charles Haresnape, said:
"Today's announcement is welcome news for homeowners, providing some much-needed guidance from the Bank on where rates are going.
"Whilst nothing is ever certain in today's economic climate, given forecasts suggest it will be 2016 at the earliest before rates rise, homeowners will be looking more closely at longer-term fixes or to choose a tracker for the foreseeable future."
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