Inflation "soars" - base rate and mortgage rates to increase?

rjgb

http://www.metro.co.uk/money/809638-inflation-soars-with-the-biggest-ever-rise-in-a-single-month


Will this lead to an imminent rise in the base rate? If so, by how much?

Any comments as to how this might affect available mortgage rates?

yelf

No - if you look at the causes of the rise, thee is no need to increase rates

dimbo61

Bank of England base rate will be 5% by Xmas !!!
Only joking
Who Knows

mmcmahon

Typical scaremongering type headlines in the Metro

beecher2

Indeed - who knows. Few people would've guessed base rates would go down so low if you'd asked them a few months beforehand. Interest rates can only go up, and best to make any financial decision while contemplating the fact that 5% is far closer to the 'norm' than 0.5%. Anyone on trackers/SVRs should be planning on how they'll pay when interest rates go up, and saving/overpaying as much as they can.