BOE Interest Rate increased to 3%

ForumUser7

Today, the Bank of England has increased its base rate by 50 basis points, to a new rate of 3.5%.


Hopefully we'll see some savings providers increase their rates before Christmas, but it'll likely be January for most.

Thoughts? ~ https://forums.moneysavingexpert.com/discussion/6411359/bank-of-england-15-december-2022#latest

phillw

DoublePolaroid said:
Being elderly, having one of various medical conditions and taking certain drugs impairs thermoregulation to the point where the kind of temperature that a healthy person might shrug off by wearing several layers and a blanket can threaten the health or life of somebody susceptible.

At the time I wrote the comment, it was still comfortable without several layers and a blanket. With an insulated house it was warm enough, of course I have my heating on now.

Though I do understand some people need to be be kept warmer than me, but it's a shame that this scheme is not rolled out everywhere

https://www.bmj.com/content/379/bmj.o2835

As for insulation, I seem to remember a group of people who were gluing themselves to the m25 who wanted something done about that. Apparently the entire country was too busy taking their children to hospital to take that message on board.

Rollinghome

phillw said:

You don't have to have your heating on, I haven't yet.
You can cut back on what food you buy (either quantity or quality).

I'll give you housing, it's kinda hard to cut back on that.

Like to expand? Is it that you are living in a terraced house or a flat so that your neighbours are heating your home for you?  Or are you using some other method to capture heat? Most people won't be able to avoid the cost of heating their homes.

If you allow the temperature of your home fall to match the recent ambient temperatures of -5 degrees or less, then you may have bills to repair plumbing, freezers, movement damage, etc.

Edit. I see you have since expanded, that was an old post, and it was only very recently we got the much lower temperatures.