The Bank of England has hiked interest rates for the tenth time in a row, putting even more pressure on households amid the ongoing cost of living crisis.
The Bank said the decision on Thursday was taken to help keep inflation under control and indicated that it might be nearing the end of its successive interest rate rises.The Bank also forecast that an expected recession will be shorter and shallower than previously thought.
It came as Chancellor Jeremy Hunt said that he would try to "support" Governor Andrew Bailey and his team's efforts to lower inflation in next month's Spring budget, due to take place on March 15.Decision makers on the Bank's Monetary Policy Committee (MPC) opted to hike the base rate from 3.5% to 4%, to help bring double-digit inflation under control.
Inflation has already started to come down off the highs of late last year, and the Bank said it expects the measure to fall quickly in 2023.But what does this all mean for inflation and homeowners?
Read more on dailyrecord.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.