Mortgage misery as Bank of England raises interest rates for first time in three years
The Bank of England has raised interest rates for the first time since August 2023, dealing a fresh blow to mortgage borrowers and businesses already struggling with rising costs.
The Bank's Monetary Policy Committee voted 8-1 to increase the base rate by 0.25 percentage points, from 3.75% to 4%, amid renewed inflationary pressures linked to the conflict involving the United States and Iran. The widely anticipated decision reverses the recent direction of monetary policy and raises the prospect of hig... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
