No interest?

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According to Jonathon Loynes, chief European economist at Capital Economics, the Bank of England’s monetary policy committee could reduce the interest rate to 0% in the near future. He claims there are no insurmountable technical obstacles to this.
The government has set 2% as the target inflation rate and it reached 4.1% last month so there is some incentive to keep dropping the interest rate.
Sadly the continued drops in the interest rate have not been reflected in the rate for personal loans which has tended to rise as loans become scarcer.