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The interest rate rise is no big deal #finance

So the Bank of England raises interest rates 1/4 of a percent. It might put an average of £12 a month on mortgages if it is passed on. Was your mortgage cut when they cut interest rates? No, probably not. Interest rates for savers were cut almost to zero and the government and Bank of England are really giving savers a bad deal. In fact, the government is hitting older people now because they seem to feel the triple lock on pensions is somehow too generous. The interest rate rise is no big deal because few people will be worse off or better off. We need interest rates to rise substantially but with the government virtually bankrupt by some measures of solvency that is unlikely to happen.

Interest rate rise - it is no big deal

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