The Bank of England is gearing up to announce its review of the Base Rate next week=- which could lead to some financial changes.
However, as far as the BoE is concerned, it will likely see the need to keep adjusting interest rates in response to the economy to achieve that 5 per cent inflation. To find out how this could affect your finances, read below... Will interest rates increase again? While it is highly likely that interest rates will increase on February 2, this is not a guarantee. On December 15, 2022, the Base Rate rose by 0.5 percentage points to 3.5 per cent.
What will happen to my money if interest rates go up? Interest rates will have a direct effect on those with a loan or a mortgage with a variable interest rate. If the interest rate goes up, you may notice that the cost of your repayment will go up as well.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK 'more likely than not' heading for recession, Former Bank of England Governor Mark Carney warnsThe former Governor of the Bank of England, Mark Carney, has warned that a recession 'is more likely than not' in light of the current state of the UK economy. A recession yes, but only for the working class, the poor, the disabled..... Goes on and on and on 🤷♂️ Can we extradite that banker ***** to the UK to stand trial for his crimes ?
Source: LBC - 🏆 17. / 74 Read more »
UK Is In 'Most Difficult' Position Of All Major World Economies, Mark Carney SaysThe Problems Have Been 'amplified' By Brexit, The Former Bank Of England Governor Said. Everyone is saying the same thing I wonder why Nigel Farage thinks different? Rubbish, the Globalist's are responsible for everything.
Source: HuffPostUK - 🏆 108. / 51 Read more »
Bradford: Police hunt for wanted man with half an earPolice hunting a wanted man are hoping his 'distinctive' appearance will help them catch him. Ear today gone tomorrow Has a very eary look about him His teeth?
Source: BBCLookNorth - 🏆 37. / 67 Read more »
EFL Cup - Live Reporting for Southampton vs Newcastle United January 24, 2023 | Football365Newcastle take on Southampton in the first leg of their Carabao Cup semi-final. Track the action live with us:
Source: F365 - 🏆 5. / 97 Read more »
Children in northern England are most vulnerable to cost of living crisis, MPs warnOn the eve of a major meeting of northern mayors to discuss levelling up, a new report from MPs is warning that children in the north are the most vulnerable to the cost of living crisis. JackieLongc4 Good old levelling up……not JackieLongc4 What a remarkable young woman. Knows how to make an argument. Great skills.
Source: Channel4News - 🏆 27. / 68 Read more »
Damning report lays bare lack of investment in North of EnglandThink-tank says region of 15 million people held back by 'vast inequalities' and 'systematic underinvestment'
Source: MENnewsdesk - 🏆 23. / 69 Read more »