Interest rates – stick or twist, the debate continues
Virtually every week there seems to be a debate over whether rates will go up this year or not. No doubt, there is something of a perfect storm in place. Do nothing and inflation keeps rising. Raise rates and consumers, already in big difficulties, will be in even deeper trouble. This week, based on the minutes of the last monetary Policy Committee meeting, the consensus is now that rates may not rise this year. All in all, if you are thinking whether to remortgage and fix your interest rate at what is still a relatively low level, it’s very hard to know what to do.