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Will it be the Bank that stole Christmas by putting up rates?
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After Rishi Sunak’s budget, it’s over to the Bank of England. On Thursday this week Threadneedle Street will put an end to the frenzied will-they, won’t-they speculation on the matter of whether we are about to see the first interest rate rise since the onset of Covid-19.
Financial markets are betting this is the moment of lift-off from the current historic low of 0.1%, against a backdrop of soaring inflation and with the economy within a hair’s breadth of its pre-pandemic peak.
Britain’s biggest banks clearly agree, moving to nudge up mortgage rates in anticipation.
Households are warned of a triple whammy: the squeeze on living costs from high inflation will be compounded by the chancellor raising taxes, and the central bank ramping up
Read more on theguardian.comAbout this in other media
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