The Bank of England heaped more misery on families today by pumping up interest rates to combat rampant inflation – as it admitted the country is almost certainly already in recession.
The base rate is going up by another 0.5 percentage points to 2.25 per cent – the highest for 14 years – adding to the burden for mortgage payers.
But the Bank stopped short of the 0.75 percentage point rise many had expected, pointing to the government’s energy bill freeze and warning that GDP is set to fall for the second quarter in a row. That meets the technical definition of a recession.
Read Full Story ….
dailymail >>>
:
| Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Featured Video
