At midday today the Bank of England is widely expected to increase interest rates to 0.5% to contain inflation. The cost of living is already soaring, and will get worse from April given rising energy prices. And now borrowing (mortgage/loan) rates will be going up, too. In short, it's a mess. Questions below.
- Is the Bank of England right to raise rates, or are its hands tied?
- How will rising interest rates impact you and/or your business?
- How confident are you compared to this time last year?
If you're a Premium Newspager, your response will be edited by a seasoned hack. Keep your responses short and sweet and, as you always do, speak from the heart. We'll leave the sterile macroeconomic guff to the macroeconomists.