The Bank of England has increased interest rates from 0.5% to 0.75%.
This increase in interest rates is an attempt to control the soaring cost of living.
The Bank of England’s Monetary Policy Committee (MPC), who set interest rates, voted 8 to 1 to increase rates. (The MPC are scheduled to meet 8 times per year.)
Farrell Financial Planning are independent financial advisers (IFAs) based in Glasgow and do not give advice on inflation or future interest rate movements. However, we do offer independent mortgage advice.
Please feel free to explore our website and discover more about the advice services we offer.
All information is correct as at 17/03/22.