Bank will ‘not hesitate’ to raise interest rates after pound’s fall

The Bank of England said it was “monitoring developments closely” after the pound hit a record low. …

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said if interest rates rise as predicted, the average household refinancing a two-year fixed rate mortgage in the first half of next year would see monthly payments jump to £1,490 from £863.

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