General · 7 hours ago
Bank of England expected to lift rates to 4%, raising mortgage costs
Diliff via Wikimedia Commons (CC BY-SA 3.0)
The Bank of England's Monetary Policy Committee announces its decision at 12:00 on Thursday, with most analysts expecting a rise from 3.75%. Inflation reached 3.5% in September, significantly exceeding the Bank's 2% target, the Office for National Statistics reported. Around 510,000 people on tracker mortgages would pay about £31 more a month, according to UK Finance.
Reported by BBC · How we write briefs