which is basically about 750, so it s about £120 difference, at 5.76. so, it s a lot more. today s interest rate hike is the ninth rise in a row. rates are now seven times as high as they have been for the last 13 years, when interest rates were kept at emergency lows because economic growth was so weak. what the bank of england is aiming to do is to make it more expensive to borrow and spend, which should mean that households and businesses spend a little bit less overall, so there is a little bit less buying pressure, upward pressure on prices, and that should reduce inflation over the medium term. but if they raise them too fast, some economists are worried that that reduced activity could mean fewerjobs. today s rise was slower than last month, when ratesjumped by three
so it s about £120 difference, at 5.76. so, it s a lot more. today s interest rate hike is the ninth rise in a row. rates are now seven times as high as they have been for the last 13 years, when interest rates were kept at emergency lows because economic growth was so weak. what the bank of england is aiming to do is to make it more expensive to borrow and spend, which should mean that households and businesses spend a little bit less overall, so there is a little bit less buying pressure, upward pressure on prices, and that should reduce inflation over the medium term. but if they raise them too fast, some economists are worried that that reduced activity could mean fewerjobs. today s rise was slower than last month, when ratesjumped by three quarters of a percentage point amid growing concern that higher rates could make the expected recession worse. what you have to understand is that the solution to a problem called inflation, the question is,
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