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Rates have gone up again, for the 14th time in a row. The Bank Of England has put up its main rate from 5 to 5. 25 . That will mean higher mortgages for some people, but its also good news for savers. The Bank Of England is using Interest Rate rises to fight inflation, which has slowed recently, but which is still nearly 8 . Our economics correspondent andy verity reports the father of two, peter, keeping up the payments for his familys mortgages looking like anything but childs play. They bought their home under the governments help to buy scheme, but since then Interest Rates have risen 1a times. When his fixed rate deal expires early next year, the payments willjump. Somehow we are supposed to spend less and find an extra £750 per month to pay for that. For many ....
Raising them too fast and too high, and that is raising them too fast and too high, and that is causing a lot of pain for people and that is causing a lot of pain for people with mortgages and debt, and instead the government should be looking and instead the government should be looking at and instead the government should be looking at fiscal measures price controls looking at fiscal measures price controls and taxing wealth, high income controls and taxing wealth, high income individuals like the policies that help income individuals like the policies that help people through the cost of livin- that help people through the cost of living crisis. high that help people through the cost of livin: crisis. , ., , living crisis. high interest rates have already living crisis. high interest rates have already played living crisis. high interest rates have already played a - living crisis. high interest rates have already played a role - living crisis. high interest rates ha ....