Interest rates to double next month, City warns as pay falls behind inflation

up from 0.1% to 0.25% in December and now seems almost certain to double them in February. The City expects up to two more rate rises after that this year alone.Capital Economics said: “The labour market appears to have remained tight both after the end of the furlough scheme and the start of the Omicron wave, which supports our view that interest rates will be raised from 0.25% to 0.

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