UK Interest Rates Rise
 

Had to start.


The Bank of England has announced
a pre-Christmas interest rate hike from 0.1% to 0.25%.


https://news.sky.com/story/bank-of-e...-hike-12497280

I remember the heady days when you got 10% on your savings.

Yes a better time



3 years wait for this little change.

Bet they wont pass this on to savers but anyone with a mortgage will get a hit straight away

UK Inflation 5.1%


Netherlands 5.6%


USA Inflation 6.8%


Turkey Inflation 21%

Ref: CNN HD Business

Turkey has raised the minium wage.

Bank of England set raise the rate again on Thursday
reported on the media.

has to happen, will they pass it on to savers though

Ok, so I forgot to pay the visa online over xmas and new year, 5 days late and they charge £62 interest.
So, they have lots of bobs in our savings and we get pretty much nowt.
Bloody banks:fist:

Today at midday we find out if there is a new rise.

cheeky barstewards

[The Bank of England has raised
interest rates for the second time in
three months in a bid to cool soaring prices.

The increase to 0.5% from 0.25% comes as
households face soaring energy bills
and rising costs to the weekly shop.

Prices are currently climbing at the fastest
rate in 30 years, and there are fears
that the pace will accelerate.]

https://www.bbc.co.uk/news/business-60197463


We have 7% Inflation at this time.

Another Rise Expected today.


[The Bank of England is expected to raise
interest rates back to its pre-pandemic levels today
as it tries to dampen the UK’s inflationary surge.

The City widely anticipates the BoE will hike
borrowing costs for the third meeting in a row,
up to 0.75% at noon today,
the highest since March 2020, despite the economic
uncertainty created by Russia’s invasion of Ukraine.]


Ref :Guardian Business

They said yesterday we can expect 6 more rises this year...

I hope people locked in their mortgage rates

and about time they passed on these rises to savers.....


some savings accounts are on 00.1%

Just noticed I am a broken record on this thread :worry:

Expected to Rise today to 1%

Halifax apologises after interest rate email blunder


https://www.bbc.co.uk/news/business-61320828



Jumping the Gun.


[Halifax has said sorry after it sent emails to
customers incorrectly saying that the
Bank of England had raised interest rates.
Some mortgage customers received a message
on Tuesday saying "the Bank of England
base rate has changed today".]

Sounds like you got a lot of savings :laugh:

we had a little unexpected windfall recently :pipe: (not lottery)

I’m pleased for you, don’t buy any football shirts :joker:

Thank you! it was no where near that region of dosh unfortunately but yeah I wont!

https://i.dailymail.co.uk/1s/2022/05...1751004990.jpg


[Bank of England's new doom-laden warning
for the economy: Unemployment will rise,
inflation will hit TEN PERCENT and post-Covid
growth will stagnate - as interest rates
rise AGAIN to a 13-year high of 1%

The Bank of England has raised interest rates to a
13-year high of 1 per cent warning of inflationary threat
The Bank warned that headline inflation rate is set
to top 10 per cent this year and economy is stalling
First forecast since the Ukraine war began
highlights fears of lower growth
and pain for years to come]

https://www.dailymail.co.uk/news/art...igh-today.html