Another Bank Rate Increase
The Bank Rate has just been increased by another 0.25% to 5.75%
There will no doubt be many people in the city who think this is a good thing for the country… blah…blah…blah
There will be a lot more people who shudder at the thought of even higher charges on their credit card, loans, mortgages and other debts. Many businesses will wonder how they can compete with chinese and other manufacturing nations where costs are lower.
It is hard to see how house prices can continue to increase with the recent increased costs of buying a house. Let us hope that interest rates are now peaking.
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