• Saturday, October 01, 2022

Property

Interest in rate rise

By: Eastern Eye Staff

BANK OF ENGLAND DECISION WILL AFFECT MORTGAGE PAYMENTS THE Bank of England (BoE) will be look­ing to see if Britain’s economy has re­covered from a severe winter chill as it weighs the prospects for a future inter­est rate rise this week. BoE governor Mark Carney has said first-quarter weakness looks temporary and he expects rates to rise gradually over the next couple of years, to prevent over­heating at a time of above-target inflation and the lowest unemployment since 1975. But he has been vague about precise timing. A possible May rate rise was thrown off course by an unusually harsh…

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