BBCNEWS Breakfast June 4, 2024 05:31:00
Going up? yes, really, this is a question of fairness — a general feeling that the banks are taking more than they're giving back. let's go back to the beginning — the reason interest rates are soaring compared to recent years is because of this number, inflation — the rate prices have been rising at — remains stubbornly high. enemy number one as the bank of england and the government now describe it. the main weapon the bank has to bring down the price rises is to put up the base rate of interest — now at 5%, which is a 15—year high. that makes it more expensive to borrow money ? ...