King hints at a Base Rate rise before year end
The Telegraph reports today that the Governor of the Bank of England has given his clearest indication yet that the Base Rate will need to rise by up to three quarters of one percent before the end of the year.
Any rise in interest rates would end nearly two years of stability with record low interest rates of 0.5 per cent, hitting the majority of mortgage holders, but giving some hope to hard-pressed savers.
Any rise in interest rates would end nearly two years of stability with record low interest rates of 0.5 per cent, hitting the majority of mortgage holders, but giving some hope to hard-pressed savers.
Leading economists seized on a key passage in the governor's letter to George Osborne, the Chancellor, explaining why inflation was above target for the 13th consecutive month. They said Mr King's words were a clear signal that interest rates could rise three times before the end of the year, to hit 1.25 per cent.
To read the rest of the article, please read Mark's Mortgage Blog here
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