Mortgages, bills and jobs: Five takeaways from the Bank of England
The Bank of England has indicated that interest rates could rise due to economic uncertainty caused by the conflict in the Middle East, which is also expected to increase energy prices and household bills. Millions of UK homeowners may face higher mortgage payments when their fixed-rate deals expire, while energy bills are projected to rise but not to the extent seen in 2022. Lower-income households are expected to be disproportionately affected by the rising cost of living, particularly due to increases in energy and food prices.
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Mortgages, bills and jobs: Five takeaways from the Bank of EnglandJust nowShareSaveAdd as preferred on GoogleKevin Peachey,Cost of living correspondentandShanaz Musafer,Business reporterGetty ImagesThe Bank of England has revealed some interesting details on the ways our finances might be affected as the conflict in the Middle East hits the economy.Here are five key takeaways.1. Rate rises could be on the wayNot that long ago, most economists were expecting interest rates to fall this year.
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