When the next interest rates decision is and what it will mean for mortgages

Former MPC member, Charles Goodhart, said: “Although the headline figure for inflation was reasonably encouraging, core inflation did not budge. The combination of that, together with the disturbing data for wages, implies that there will now, almost certainly, be a 0.25 point rise.”he would vote for a 0.25 percentage point rise this time, but added: “It’s a difficult situation – they know we’ve seen 14 increases in a row and that’s really hurting the economy.

Some economists and politicians, however, fear there is a risk the UK will be tipped into recession if the Bank moves too aggressively, pointing to early signs thatGeorge Dibb of the centre-left Institute for Public Policy Research think-tank said: “The Bank has gone far enough with rate rises – in fact, we have probably gone past that point already.

He added: “Further rate rises will further harm investment – the UK is at the bottom of the international league tables on investment. There are early warning signs that we might be killing the prospect of a soft landing.”, which follow changes in the base rate, will increase in line with it should the MPC raise it as expected.

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