UK has no alternative to Bank interest rate rises to calm inflation – Hunt
Chancellor says he “unstintingly” supports the Bank of England to “do what it takes” to cut inflation. …
Take mortgages. In the early 2000s, more than seven out of 10 residential mortgages were on variable or tracker rates, immediately impacted by rate hikes. Today, it’s 15% of homeowners. Even adding in the 1.8 million who are re-mortgaging this year, means it’s still, contrary to a couple of decades ago, the minority of mortgage holders who will be affected.
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