[arista]

[arista]

[arista]

[arista]

Originally Posted by arista

Another Rise today of 0.25%

4:25% Now



The Bank of England has increased the Bank Rate to 4.25%

https://news.sky.com/story/bank-of-e...ation-12840547

Ch4HDnews
say this Thursday they are expected to go up
again.

[UserSince2005]

Glad I paid all my mortgages off

[smudgie]

I just can’t fathom how this brings inflation down by many degrees.
Ok for us mortgage free savers but absolutely hell for everyone else.
As quick as the young ones save for a decent house deposit the rates go up.

[arista]

4.25 to 4.5%

Rise today


[Bank of England interest rate increased
0.25 percentage points to 4.5%

The central banks now forecasts
no recession this year,
upgrading its economic growth forecasts by more
than any of its previous reports.]

https://news.sky.com/story/bank-of-e...o-4-5-12878186

[arista]

[arista]

[arista]

[arista]

The Online Paper:

[Zizu]

Apparently despite the interest rates rise and Inflation moving up still … the supermarket chains have had a crisis meeting yesterday and have announced that the cost of food / toiletries and everything else will be dropping substantially now over the coming months !?!!

I really don’t understand anything that goes on in the financial world these days .


Sent from my iPhone using Tapatalk Pro

[arista]

Sky News Text:
[Experts Encouraging Banks to pause another interest rate hike
which could even see the base rate hit 5%,
according to analysts.]

Due This Thursday

[Cherie]

The banks do not need to pass on every interest rate hike to people with mortgages, they are very slow to pass it onto savers its just greed on their part, they would be better off holding off so people can pay rather than going down the repossession route

[bitontheslide]

as far as the government and the BoE are concerned, the faster it applies, the better. That's how they reduce inflation.

[arista]

Originally Posted by Cherie

The banks do not need to pass on every interest rate hike to people with mortgages, they are very slow to pass it onto savers its just greed on their part, they would be better off holding off so people can pay rather than going down the repossession route

Yes a Fella
just on LBC Live

Said take away the Bank of England's Power
let the Government take over.

And give more money to energy Heating bills

[bitontheslide]

but that won't get inflation down

[arista]

Originally Posted by bitontheslide

but that won't get inflation down

Yes, but many could lose their homes,


And Builders are sitting on Land
Not Building in fear, they could go under.

[arista]

[arista]

[arista]

[arista]

Sky News Text:
[Millions of mortgage holders are braced
for interest rates to go up for the 13th time in a row]

[bitontheslide]

it's as i said previously. The whole point of interest rate hikes is to take the heat out of the economy to reduce inflation, and that will be painful to many people. That is the only way to reduce inflation

[arista]

UK Interest Rate has Risen to 5%


[Bank of England: Interest rates rise to 5%
The Bank of England has raised interest rates for
the 13th time in a row.
This is a rise of 0.5 percentage points - bigger than expected.
It was a majority vote from the Bank.]

[arista]

[The Bank of England has raised interest rates
by a half point to 5% as it intensifies its
efforts to tackle stubbornly high inflation,
adding to the strain on households
struggling with soaring mortgage costs.

In what will be seen as a major move,
the Bank’s monetary policy committee
increased rates for the 13th consecutive time
to the highest level since April 2008.
Before the decision was announced,
financial markets were evenly split
on whether the Bank would vote for
a half-point rise or a smaller
quarter-point increase.]


https://www.theguardian.com/business...alf-point-to-5