Article 6FGR7 Full force of interest rate hikes is yet to be felt, says Bank of England official

Full force of interest rate hikes is yet to be felt, says Bank of England official

by
Phillip Inman
from Economics | The Guardian on (#6FGR7)

Swati Dhingra says economy has flatlined and millions of mostly young and poorer people could be affected if rates stay high

The economy has flatlined and only a quarter of the impact from the Bank of England's 14 consecutive increases in interest rates has fed through, according to one of its policymakers.

Swati Dhingra, a member of the central bank's rate-setting monetary policy committee (MPC), said the full force of the steep rise in borrowing costs to 5.25%, after years of cheap loans and low mortgage rates, was only just beginning to hit household incomes.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title Economics | The Guardian
Feed Link https://www.theguardian.com/business/economics
Feed Copyright Guardian News & Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments