Economy 52,834 Posted June 22, 2023 Share Posted June 22, 2023 https://www.google.ca/amp/s/globalnews.ca/news/9785917/recession-fears-uk-bank-of-england-interest-rate/amp/ The UK central bank shocked markets by raising rates by 50 basis points raising the 4.5% rate to 5%. While trying to cool inflation the higher rates are raising concerns about triggering a recession The UKs rates are roughly in line with Nations such as USA, Canada and New Zealand that have also raises rates to the highest in decades as they grapple with high inflation Link to post Share on other sites More sharing options...
Better Day 5,766 Posted June 22, 2023 Share Posted June 22, 2023 All because of Brexit and Liz Truss Together You And I! Link to post Share on other sites More sharing options...
Defmix100 7,046 Posted June 22, 2023 Share Posted June 22, 2023 I just had to jump to a different mortgage right before this went up, don't know how some people will be able to afford them now Link to post Share on other sites More sharing options...
Economy 52,834 Posted June 22, 2023 Author Share Posted June 22, 2023 4 hours ago, Better Day said: All because of Brexit and Liz Truss Not really. At best a small fraction of the reason Link to post Share on other sites More sharing options...
Economy 52,834 Posted June 22, 2023 Author Share Posted June 22, 2023 3 hours ago, Defmix100 said: I just had to jump to a different mortgage right before this went up, don't know how some people will be able to afford them now My next door neighbour just had to sell his house for this reason Link to post Share on other sites More sharing options...
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