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Mortgages we will only see a rise when it comes to menu your mortgage but in effect mortgage lenders have been pricing in this interest rate rise. they expected to come so they priced it into their mortgage rate but the immediate impact will be felt on around 1.5 million people on track or variable rate mortgages and they could see another rise, the latest in many, of course, and, yes, increasing squeeze on them and their monthly repayments and in all likelihood talking about another £20 also in their monthly payments this has been significant over time for them saying it is too much money. welcome back to him imminently but i want to talk to a few people really feeling the impact of what s happening. journalling is a homeownerfrom happening. journalling is a homeowner from manchester and also ....
Borrowing. the convening are financial correspondent kevin peachey in the business news in fuzz now and let s talk first of all about the bank in terms of what it has left in its arsenal to deal with inflation because the disappointing factions many economists inflation didn t follow summit hopes and predicted it would do in may. why is that? ., ~ ., ., ., , that? the bank of england had this as its primary that? the bank of england had this as its primary tool that? the bank of england had this as its primary tool in that? the bank of england had this as its primary tool in order- that? the bank of england had this as its primary tool in order to - that? the bank of england had this| as its primary tool in order to make the dough might try and bring down that rate of rising prices and a discussion today really about whether they are going to take a big step which would mean putting up interest rates to 5%, a 0.5% rise, or whether they would take a small step at a 0.25 percenta ....
An immediate effect on increasing rates, making things more expensive, and so i think what customers will be more interested in hearing about is the work that they are doing with lenders to help them afford their mortgage in the immediate future. thank you very much. thank you for sticking with us. we have that statement from the chancellorjeremy hunt, who said the government has had a watertight resolve to bring inflation down, and if we don t act now, it will be worse later. that is again the statement from the chancellorjeremy hunt. the shadow chancellorjeremy hunt. the shadow chancellor rachel reeves has been giving her reaction to the rate rise, let s listen. rise, let s listen. today is an incredibly rise, let s listen. today is an incredibly worrying - rise, let s listen. today is an incredibly worrying time i rise, let s listen. today is an incredibly worrying time forl rise, let s listen. today is an i incredibly worrying time for many families right across the country who ....
Finances. absolutely. you said it was not a unanimous finances. absolutely. you said it was not a unanimous decision, i finances. absolutely. you said it- was not a unanimous decision, some economists have been very vocal to say they do not think this is the right way to go, that rising interest rates decision by the bank of england is quite a blunt tool to use in order to combat inflation. if it hasn t worked for the past 12 arises, what is the thinking beyond this 13th rise? is that by the bank decided to go with a slightly larger rise than we were expecting? t think rise than we were expecting? i think the laraer rise than we were expecting? i think the larger rise rise than we were expecting? i think the larger rise is rise than we were expecting? i think the larger rise is probably rise than we were expecting? i think the larger rise is probably in - the larger rise is probably in response the larger rise is probably in response to some of the data we have seen in resp ....
Increases and, remember, we have had 12 and a vote for december 21, to give time to allow this to take effect, if you like. but, yes, lots of discussion about whether it is the right move. lots of decision about whether this tour is abundant till now and trying to tackle inflation whether this tool is a blunt tool now. in all likelihood, the monetary policy committee at the bank of england are not going to be united in their view on what they decide in the end. {131 united in their view on what they decide in the end. united in their view on what they decide in the end. of course, kevin is the rate decide in the end. of course, kevin is the rate of decide in the end. of course, kevin is the rate of interest decide in the end. of course, kevin is the rate of interest rates - is the rate of interest rates continues to rise and potentially today can be the 13th month in 13th rise so more pain for many homeowners up and down the country whose mortgage monthly payments could end up ....