Interest charges rise for first time in three years

While it is very important observe {that a} 0.15% rise is modest and nonetheless leaves base charges very near historic lows, it’s not ultimate that this comes on the exact second the place some types of client confidence, particularly by way of going out, look like slumping. The Bank’s Monetary Policy Committee was briefed by the Chief Medical Officer, Chris Whitty, and intriguingly selected to say the chance that Omicron might elevate inflationary stress by additional hobbling provide chains for items, and the availability of employees.

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