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Bank of England Expert Says Interest Rate Rises Should be Delayed

A top Bank of England official has warned that there should be a delay in rasing the interest rate to allow household spending to have time to strengthen from its current position.  Inflation is currently set at more than twice the Bank of Englands 2% target rate, to reduce this rate improvements are needed in consumer spending.

It is believed that interest rates will increase in August, by many City experts, when the Bank of England publishes its latest growth and inflation forecasts,

Homeowners aged over 55 years who are worried about the possibility of higher interest rates 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.