Posted on Dec 16, 2021
Bank raises interest rates to 0.25% to help rein in rocketing inflation
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And so it begins...how long before we follow suit?
Bank raises interest rates to 0.25% to help rein in rocketing inflation
Posted from aol.co.uk
Money
Banking
Loans
Posted >1 y ago
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SFC (Join to see)
Sgt (Join to see) My family and I were so poor back in the day, we didn’t know or understand what inflation was; all we knew was we couldn’t afford to borrow any money. We made do.
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Lt Col Charlie Brown I wanted to read the article but it came up with some crazy thing from AOL about collecting information.
Below is what I got.
Your data. Your experience.
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Below is what I got.
Your data. Your experience.
AOL is part of the Yahoo family of brands.
By clicking "Accept all" you agree that Yahoo and our partners will store and/or access information on your device through the use of cookies and similar technologies and process your personal data, to display personalised ads and content, for ad and content measurement, audience insights and product development.
Your personal data that may be used
Information about your device and Internet connection, including your IP address
Browsing and search activity while using Yahoo websites and apps
Precise location
You can select 'Manage settings' for more information and to manage your choices. You can change your choices at any time by visiting Your Privacy Controls. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Click here to find out more about our partners.
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Lt Col Charlie Brown
Sorry about that
The Bank of England has increased interest rates to 0.25% in a bid to rein in rampant inflation despite mounting fears over the impact of the Omicron variant of coronavirus.
Members of the Monetary Policy Committee (MPC) voted eight to one to raise rates from the historic low of 0.1%.
It comes after pressure has been building on the Bank to bring the soaring cost of living under control, with official figures this week showing the Consumer Prices Index jumped to 5.1% – the highest level for more than a decade.
In the minutes of the decision, the Bank warned that inflation could now peak at 6% in April, while it also downgraded growth outlook to 0.6% in the fourth quarter from a previous forecast of 1%.
It said: “Most members of the Committee judged that an immediate, small increase in Bank Rate was warranted.”
The Bank of England has increased interest rates to 0.25% in a bid to rein in rampant inflation despite mounting fears over the impact of the Omicron variant of coronavirus.
Members of the Monetary Policy Committee (MPC) voted eight to one to raise rates from the historic low of 0.1%.
It comes after pressure has been building on the Bank to bring the soaring cost of living under control, with official figures this week showing the Consumer Prices Index jumped to 5.1% – the highest level for more than a decade.
In the minutes of the decision, the Bank warned that inflation could now peak at 6% in April, while it also downgraded growth outlook to 0.6% in the fourth quarter from a previous forecast of 1%.
It said: “Most members of the Committee judged that an immediate, small increase in Bank Rate was warranted.”
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Haven’t had debt since 1991, everything paid off. And I pay cash for ALL my purchases.
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