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Interest Rates: What The Rise Mean For Your Mortgage, Loans And Investments? | The Independent

by independent.co.uk posted 9months ago 24 views
The Bank of England has increased the benchmark rate by 0.5% today. : An interest rate rise now seems likely when the Bank of England’s Monetary Policy Committee meets on Thursday, with markets pricing in a high likelihood that the benchmark will go up. Long-suffering savers have become used to rock-bottom returns with some banks currently paying just 0.05 per cent a year on instant access savings accounts. While there is likely to be some movement in this if the BoE raises the base rate, don’t expect massive jumps in returns.

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