A rapid interest rate rise seems inevitable – and households are expected to pick up the tab
Raising borrowing costs too far risks laying waste to whatever growth there is in the economy
A head of steam is building up behind the Bank of England raising interest rates again. With the latest forecasts by the central bank showing inflation rising to 5% next spring, another increase in the cost of borrowing seems inevitable, and may come as soon as next month.
A growing number of analysts predict the Bank’s policymakers will don Scrooge masks when they meet on 17 December to deliver a message of austerity and sacrifice.
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RASIPOGULA GOPAL
Sr. Reporter
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