One chart that will make you wonder how a generation managed with high interest rates

Here is a chart of the Bank of England base rate from 1975 till date,

Source: Bank of England

And here is one with each change marked,

Source: Bank of England

Not only was the base rate high, it changed frequently too.

“We live by the Golden Rule. Those who have the gold make the rules.” – Buzzie Bavasi

 

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