Looking at base rate changes over the last fourteen years, reductions in the Bank of England base rate have ranged from 0.25% to 1.50%, however, base rates have only ever risen during the same period by 0.25% at any one time. During this period, increases have usually come in quick succession, with several rises over a short space of time.
Between May and August 1997, there were four increases in the Bank of England base rate, whilst rates went up four times in the six months from September 1999 to February 2000. There was a sequence of five base rate rises over the 12 months from August 2006 to July 2007. This was the last time the UK saw an increase in base rates.
