What the Bank of England’s base rate rise means – in numbers

. One of the Bank of England’s jobs is to hit a 2% inflation target. It expects inflation to increase to 10% before the end of the year, despite its efforts to control it by raising interest rates.Number of borrowers on a standard variable rate mortgage. These home loans have an interest rate set by the bank or building society. Some are explicitly linked to the base rate so will automatically go up in line with it, but others are set at the lender’s discretion.

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There are alternatives to bank/building society deposits, such as Glintpay & tallymoney both utilise gold.

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