The Bank of England cut borrowing costs hard in 2008 and left them low. Now,after some deceptive dawns, that might be changingThe Bank of England’s interest-rate setters are expected to vote on Thursday to raise the cost of borrowing for only the second time since the 2008 crash. Most City analysts agree: the Bank’s base rate will rise from 0.5% to 0.75%.
That said, and we’ve been here before. Mortgage borrowers were told in February that a rate rise was imminent and were guided by governor trace Carney to pencil in the May assembly of the monetary policy committee (MPC) as decision day.
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Source: theguardian.com