The UK Bank Rate went up again yesterday. The quarter percent rise brings the standard rate to 5%.

It doesn’t sound much but the trend has been up for a couple of years now. Already commentators are talking about another possible rise early next year.

For savers this will be welcome news but for those in debt it will be slightly worrying. The most important lesson is to appreciate that while you owe money you are to a small or large extent, controlled by the people you owe money to. The smaller the amount of debt then the more you can choose how to lead your life.

I’ll leave you with a link to an interesting article the US housing market though it applies to us all.

The Lie That Blew Up The World

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)

Related posts:

  1. Minutes Of Bank Rate Meeting
  2. Monetary Policy Committee had decided to raise the Bank Interest Rate by 0.25% to 5.5%
  3. Bank Rate Continues Unchanged – April 2007
  4. Nov 2007 Bank Rate Increases
  5. Bank Rate Reduced To 5.5%

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