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Bank of England Warns Inflation Will Hit 5 Percent by Year End
31/08/2011
It was recently reported in the National Press that The Bank of England have announced that inflation levels are expected to rise to 5% by the end of this year. The Bank also announced that growth forecasts have been cut by 0.4% to 1.4% and the rate of interest will remain at record lows for another two years to support economic recovery.
This is likely to impact savers and pensioners the most as they receive low returns on their money.
The Bank Governor Sir Mervyn King conceded there was a ‘limit’ to what the Bank could do to prevent another recession although he refused to rule out printing more money to add to the £200billion already created through quantitative easing.
Homeowners aged over 55 years who are worried about low returns on their money and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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