Rate rise dominates but another expected - papers 6th August

The Daily Telegraph says a quarter percentage point rise will cost the average mortgage roughly £14 a month extra on a £100,000 mortgage. However, Roger Bootle, economic adviser to Deloitte, is quoted as saying: "In my view, the monetary policy committee should have gone the whole hog. Consumers need to be brought up short. Moreover, the housing boom needs to be stopped before it leads to catastrophe." The Times is predicting the base rate will rise again next month, in order to dampen the continuing climb in the housing market and encourage consumers to slow down spending. George ...