bank of england base rate increases again

The Bank of England has raised the interest rate for only the second time in a decade.

The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% – the highest level since March 2009.

While the decision means that the 3.5 million people with variable or tracker mortgages will pay more, the rise will be welcomed by savers.

Mark Carney, the Bank’s governor, said there would be further “gradual” and “limited” rate rises to come.

#wallsend#mortgages#newcastle

 

https://www.bbc.co.uk/news/business-45043776

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