by Simon Zutshi
9:13 AM, 21st December 2021, About A year ago 6
As I am sure you are aware, it was announced on Wednesday that the consumer price index was 5.1% for the year to November, a level that the Bank of England predicted the economy would not reach until April next year.
The prices of fuel, clothing and footwear rose the fastest. Reduced supplies were one cause, with a tenth of groceries either unavailable or low in stock.
As a result, on Thursday the Bank’s monetary policy committee (MPC) voted 8-1 in favour of raising the base rate by 15 base points to 0.25% from its record low of 0.1%.
Given the amount of money that the UK Government has had to print during the last 18 months of the Pandemic, I don’t think anyone is surprised that we are seeing inflation, which could then lead to interest rate rises.
We will see interest rates continue to creep up during 2022?
What will the impact be on you, your investing and the property market as a whole?
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