'Why are UK interest rates higher than some parts of the world?' 'It may be because of the effects of Brexit,' says Prof Martin Weale, but adds the economy has largely recovered from the 'nasty experience' of Kwarteng's mini-budget. 📺 Sky 501
The latest government data reveals worrying trends for homelessness levels, with more workers left without a home.
Looking ahead, he says the direction of rates will"be heavily influenced by the Bank of England's analysis on inflation, and the future path for the Base Rate, which will accompany the decision". There were record highs on 70 different advice issues, including homelessness, food bank referrals and debt.
According to research by TotallyMoney and Moneycomms, a further quarter point interest rate rise will add £26 to monthly repayments for variable customers on the average UK property costing £270,708 with a 75% loan to value ratio.
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