SNP tells Bank of England the ‘time is now right’ for interest rate cut

A cut in interest rates is needed from the Bank of England to help fix the “Tory mess” in the economy that has sent mortgage bills and other costs “through the roof”, the SNP has said.

With the next meeting scheduled to take place on Thursday June 20, two weeks before voters go to the polls in the General Election, Mr Hosie said families struggling after rises in mortgage payments, food and energy bills “need help now”.Mr Hosie said Rishi Sunak’s party had “trashed the economy and have sent the cost of living in the UK soaring”, as he said it was important to “get rid of the Tory government and put Scotland’s interests first”.

“The SNP believes the Bank of England should begin to help fix this Tory mess by lowering interest rates, to reduce the cost of mortgages and give hard-hit Scottish families a break.

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