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<p><span>The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. </span></p>
UK homeowners should prepare for steep rises in future if top economists rack the rates even higher over the next two years, the brokers said.
The UK’s move went against expectations.
Santander stated earlier today that all tracker mortgage products linked to the Bank Rate will increase by 0.15pc from February, and their standard variable rate will also increase to 3.5pc.
The Bank of England's Monetary Policy Committee (MPC) at its meeting ending on December 15, 2021, has voted by a majority of 8-1 to increase Bank Rate by 0.15 percentage points...