FINANCIAL SERVICES companies took a leaf out of the book of oil companies yesterday by almost immediately announcing rises to interest rates applied to mortgages equal to the 0.25% hike in the base rate, while at the same time delaying raising interest...
The Bank of England has just announced it will raise the base interest rate by 0.25%, the second increase in three months.
Bristol & West (B&W) economist Laurence Sanders predicts the Bank of England's base rate will peak at 5.5% by December 2005, before falling back to a rate of 4.5% one year later.