wage rises which the bank of england things are fuelling inflation. interest rates remaining high, forecast perhaps to go higher and i wonder how significant you think that warning is in the report that they could be 1 that warning is in the report that they could bei million uk mortgage holders who will have their payments go holders who will have their payments 9° up holders who will have their payments go up by £500 per month over the next three years. what kind of impact could that have on the wider economy? impact could that have on the wider econom ? . ., _ impact could that have on the wider econom ? . , ., _ , economy? that is obviously very ainful economy? that is obviously very painful for _ economy? that is obviously very painful for those _ economy? that is obviously very painful for those concerned - economy? that is obviously very painful for those concerned but. economy? that is obviously very l painful for those concerned but we should bear in mind that only about 30% of homeowners have mortgages at all and of those, people with mortgages of that size are relatively small number and the ten to be concentrated in areas where house prices are very high like london and the south—east so we might see pain there. unfortunately it will hit young people and more recent borrowers. a lot of the rest of the housing market remains fairly undisturbed so i don't think this is going to have a major effect although i do think house prices
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