INTEREST rates last hit 2% in 1951 and have not been lower since the Bank of England came into existence in 1694.
The bank was created to be the Government’s banker and received its Royal Charter in July of that year. Other events from 1694 include:
March 1 – The HMS Sussex treasure fleet is shipwrecked.
September 5 – The Great Fire of Warwick breaks out.
November 21 – Voltaire, French philosopher, is born.
December 28 – Queen Mary II of England dies.





