The Bank of England has today announced a further increase in interest rates by another 0.25% to 4.75%.
Our view
Some commentators have said that rates are now at the top of their cycle and will not increase again.
Utter codswallop!
The UK is in a much more difficult position we believe than most people think. Many have used consildation loans and borrowed much more on car, bank loans and finance agreements yet alone mortgages and high street spending.Interest rates, we beleive, have another 0.75% to go - by the middle of next year before we start to see reductions.
Be careful with your borrowing.