Base Rate Rise
- Richard Hitchell
- Aug 11, 2022
- 2 min read
The Bank of England has chosen to raise the Base Rate by 0.5% hot on the heels of raises from the Federal Reserve and European Central Bank.
With interest rates once again being raised economic growth appears to be slowing
Both markets and Omnis investments managers already anticipated the Base Rate rise so you will be unlikely so see any changes in your investments in the short term
The Bank of England has raised the Base Rate for the sixth time since December 2021 to 1.75%. If you have a fixed rate mortgage your monthly payments won't be affected. For those with tracker or SVR mortgages your payments may go up.
The Bank of England has once again raised the Base Rate. Those on fixed rate mortgages will be unaffected but it could make remortgaging more expensive when your deal comes to an end.
With continuing Base Rate rises you may want to take some time to review your existing mortgage deal.
If your mortgage is likely to go up with the increased Base Rates check what you can afford and think about whether you need to cut back on other things.
With the Bank of England raising the Base Rate hot on the heels of the Federal Reserve and European Central Bank it's not all bad news. Savers and investors could see an increase in the rates they are getting in savings and Cash ISAs
The Base Rate rise to 1.75% can be good news for people about to buy an annuity as the income you receive from them can be fixed on the day you purchase
The Bank of England has raised the Base Rate for the sixth time since December 2021 to 1.75% in a bid to tackle inflation which is predicted to reach 13% by the end of the year
The Bank of England has raised the Base Rate to 1.5%. This new 13-year high comes amid the continuing cost of living crisis.
This video from the Bank of England explains why interest rates matter to you
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