Base Rate Increase

02 November 2017

Richard Pike, Phoebus Software sales and marketing director, says “It may be the first rate rise in ten years, but the reality of the MPC’s decision today is that rates are back up to the same level they were in August 2016.  We are not yet in the realm of five percent, or more, as many people still remember.  This relatively small increase will have some impact of course, but then you also have to look at the ways in which it may help the economy.  On one hand you have to pay more for your mortgage, but on the other the pound in your pocket is likely to be worth more and go further; if it does what the bank intends and brings inflation down.

It may be too late to have any effect on Christmas goods already in the shops, but for our everyday expenses the difference could negate the extra on mortgage payments in the long term.”

 

Media contact

Debbie Staveley
Director and Owner,
bClear Communications

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+44 (0)1275 542 511

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