UK Interest rates could increase 16-fold within two years to 8 per cent – adding £900 to the average monthly home loan bill, it was claimed last night.
An economist at an influential think tank has warned that the base rate may spiral ‘rapidly’ as the Bank of England will need to curb runaway inflation.
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UK Interest rates have been left unchanged by the Bank Of England. This follows a year of record low interest rates and emergency stimulus measures.
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