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Bank of England raises base rate of interest to 1%
Appears our slide into recession is inevitable . Can anyone see a glimpse of a silver lining or any way out 'cause I can't.
Quote:
The Bank of England has raised the base rate of interest to 1% - the fourth consecutive increase as it continues to move against surging inflation - despite issuing a warning about a recession ahead.
The Bank forecast that the UK economy will shrink later this year in the face of double-digit inflation and an unprecedented squeeze on household incomes.
In its first forecast since the Russian invasion of Ukraine, the Bank said it now expected the energy price crunch to leave a lasting scar, pushing up unemployment and contributing to weak or negative growth throughout 2023.
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https://news.sky.com/story/interest-...-high-12605700
Quote:
MoneySavingExpert.com News 2022 May
MSE News
Bank of England increases base rate to 1% – what the rise means for your mortgage and savings
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https://www.moneysavingexpert.com/ne...bGD_Pq8wV5iwh0
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"I intend to live forever, or die trying" - Groucho Marx..... "but whilst I do I shall do so disgracefully." Jo Glynne
Last edited by joglynne; 05-05-2022 at 14:06.
Reason: More information
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