Consumer price inflation has recently risen to 2.7% per month, the highest level in more than a decade and as a consequence of this the Bank of England has increased the bank rate by 0.25% to the new rate of 5.25%

This had been expected by those in the know but the general view had been that it would not happen for another month or two.

This will be yet another financial burden on people who are beginning to find that years of spending on credit cards and remortgaging their houses isn’t an easy option and has a real cost. Those people who have buy to let mortgages but haven’t worked through the potential finance cost in the event of increased interest rates may find themselves in unsubstainable financial situations.

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

Related posts:

  1. Bank Rate Continues Unchanged – April 2007
  2. Consumer Prices Index Inflation Rate For Sept 2007
  3. Bank Rate Increased – A Lot More People Will Shudder At The Thought Of Even Higher Monthly Expenses
  4. Bank Rate Reduced To 5.5%
  5. Minutes Of Bank Rate Meeting

Filed under: General

Like this post? Subscribe to my RSS feed and get loads more!