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UK interest rate rise

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GrannyGravy13 Thu 05-Nov-26 12:13:42

The Bank of England has raised the interest rate to 4%.

This is the first interest rate rise in more than three years.

Do you think this is the first of more to come, I do.

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FriedGreenTomatoes2 Thu 05-Nov-26 12:15:36

My stepfather will be pleased. His stash of savings will benefit!
The rest of our family - not so much …

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GrannyGravy13 Thu 05-Nov-26 12:19:07

FriedGreenTomatoes2

My stepfather will be pleased. His stash of savings will benefit!
The rest of our family - not so much …

Yes it is good for savers apart from the fact that tax on interest went up in the budget from 20% to 24% for basic rate tax payers and similar increases for 40% and 45% tax payers.

It will be hard for middle income house owners whose mortgage deals are coming up for renewal.

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