Thanks, Bank of England: Households will pay £858m more in interest after today’s rate rise

Thanks, Bank of England: Households will pay £858m more in interest after today’s rate rise

City A.M.

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With the Bank of England Monetary Policy Committee confirming earlier today that its base rate will rise by 0.25 per cent to 1 per cent, UK households face an immediate increase in interest payments of around £858m. Analysis of Bank of England data shows UK households are currently paying £18.3bn annually in interest payments on floating rate [...]

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