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Interest Rate as of 3December2010 ENG Bank of America Form

Interest Rate as of 3December2010 ENG Bank of America Form

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okay big news the bank of England has raised UK interest rates by 0.75 percent to three percent and here's the chart now this is the single biggest rate increase in more than three decades Bank of England Chief Andrew Bailey quoted today as saying it never feels good to raise interest rates but it's their job while higher interest rates will feed through to an increase in the cost of Home Loans as this chart showing two-year fixed rate mortgages clearly illustrates the bank justifies the rising interest rates to three percent on the grounds that action is needed to control 10 inflation it does expect interest rates to Peak at 4.5 percent in the Autumn of 2023 but they're also forecasting a two-year recession for the UK with real GDP real national income falling until the end of 2024. yes we're in a session now they're predicting a shallow recession but a long one

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