Quote:
Originally Posted by Cherie
this has been coming since we voted out so anyone with a long term left on their mortgage who didn't jump onto a ten or at least a 5 year fix was nuts, the economy grew in the last quarter so I don't know why they raised it  |
We've been expecting it but Carney has been playing a cat and mouse game with all the economists.
The value of the pound has substantially dropped and the consequence of that is high inflation. You're right though, against all the odds the economy did start to lift in this last quarter but it was only by 0.1%, so at this stage, it seems risky to put up the interest rate.