Bank of England Raises Interest Rates

03 - 11 - 2022

The Bank Of England has raised interest rates from 2.25% to 3.00%. This is the 8th consecutive increase since December 2021 and the largest single increase since 1989.  

Interest rates are now at the highest level in 14 years and analysts predict that they could reach 4.75% during 2023.
Whilst this can be good news for savers, many will see their payments for mortgages, loans and credit cards on the rise. 
The Bank of England is responsible for setting interest rates. Want to know more?
The Bank of England is currently under pressure to control inflation and meets eight times per year to discuss interest rate policy. 






Foremans LLP Umberlla
Foremans LLP