The Bank of England heaped further pressure on mortgage holders on Thursday as it hiked interest rates again in yet another bid to get inflation under control.
The Bank warned of “crystallising” risks which were pushing inflation upwards as it decided to increase its base rate to 5.25% from 5%. It is the 14th rate increase in a row.
But in a good sign for the Prime Minister, the Bank said it expects the Government to meet its promise to halve inflation by the end of the year.
TalkTV’s James Max debates the rise in interest rates with Liberal Democrat MP & spokesperson for the Cabinet Office Christine Jardine.
James: “You’re avoiding answering the question.”
Christine: “I am answering the question, I am saying to you what we will do!”
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