Bank of England raises interest rates to 4.5%
Link: https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2023/may-2023
As predicted the Bank of England has raised interest rates from 4.25% to 4.5%. The next review is 22 June 2023. CPI inflation was 10.2% in Q1 2023, but is expected to fall sharply in April 2023. On 5 May 2023, ONS published the latest data and trends about the cost-of-living crisis. This explores changes in housing costs and how this is affecting people, both private tenants and mortgage holders.
Link: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costoflivinginsights/housing
The Vulnerability Registration Service (VRS) supported the recent launch of the Equifax UK and TDX Group report entitled 'Making ends meet: unravelling the cost of living spiral' where James Hilton predicts that we will see more households falling into debt for the first time due to the mortgage shock expected later this year, when 1.4m consumers ...
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