BoE sticks at 5.75%

Many commentators say a series of recent rate hikes should be enough to curb consumer spending and bring down inflation. However, some believe a rate hike to 6% is almost certain before the end of the year and some even predict rates rising to 6.25% before they begin to fall. The latest figures from the Consumer Price Index put inflation at 1.9%, just below the Treasury’s target of 2%, meaning the BoE has brought inflation back into line. The news will come as a relief to many homeowners, who have been hit by five interest rate rises over the past year. However, the Royal Institute ...