Bank of England's first interest rate increase in a decade; Brexit impact hovers over future decisions

Friday, November 3rd 2017 - 07:37 UTC

Full article 3 comments

The Bank of England has raised interest rates for the first time in a decade to contain an increase in inflation stoked by the Brexit vote, in what is otherwise a moment of high uncertainty for the economy. In a statement Thursday, the bank said it had lifted its benchmark rate, which affects the cost of loans and savings rates in the wider economy, to 0.50% from the record low of 0.25%. Read full article

Comments

Disclaimer & comment rules

The Voice
Immediate increase in mortgage interest payments but no increase in rates paid to savers. Banksters, pigs and trough spring to mind.
Nov 03rd, 2017 - 08:40 am - Link - Report abuse 0
-+
Clyde15
TV

As you say, my Nationwide account pays 0.1% interest. So, over 8 years it has lost over 30% against inflation. It would have been better buying premium Bonds, one small win would have paid more than 8 years interest and I could still get all my money back..
Nov 03rd, 2017 - 05:35 pm - Link - Report abuse 0
-+
The Voice
Only way Clyde buy at least 20 different High Yield shares in ISAs to get 4.5% tax free. Avoid the banksters and so called financial advisors at all costs.
Nov 03rd, 2017 - 08:19 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!