Bank of England raises UK interest rates...

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Bank of England raises UK interest rates...

Postby Thunderfog » Thu Aug 02, 2018 3:34 pm

The Bank of England has raised the interest rate for only the second time in a decade.

The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% - the highest level since March 2009.


https://www.bbc.com/news/business-45043776

The economy looks to improving.
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Re: Bank of England raises UK interest rates...

Postby kevinchess1 » Thu Aug 02, 2018 3:51 pm

Hardly a surprise
Let wait and see before making snap judgments
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Re: Bank of England raises UK interest rates...

Postby macliam » Thu Aug 02, 2018 6:20 pm

Not the economy, but employment levels threatening wage inflation (now, there's a novelty....)

How will people cope with a rise in interest charges? ...... and will it get passed on to savings (where NSI and several BSs have just announced drops in the payable interest rate)?

A preamble to things to come?
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Re: Bank of England raises UK interest rates...

Postby kevinchess1 » Thu Aug 02, 2018 10:48 pm

Not seen this macliam
can you post a link to the reduction in NSI and BS rates?
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Re: Bank of England raises UK interest rates...

Postby macliam » Thu Aug 02, 2018 11:38 pm

kevinchess1 wrote:Not seen this macliam
can you post a link to the reduction in NSI and BS rates?

NS&Is ISA rate cut from 1% to .75% in September was fairly well publicised, e.g. https://www.moneysavingexpert.com/news/banking/2018/07/nsi-to-cut-direct-isa-rate

My current Skipton flexible cash ISA pays 1% (don't all rush :roll: ) but is now being advertised at 0.9% (https://www.skipton.co.uk/savings/isas)
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