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LiveMore comment on base rate rise
02 February 2023
Simon Webb, managing director of capital markets and finance at LiveMore, commented: “This is the 10th consecutive base rate rise taking it to a 14 year high of 4%. But not all members of the Monetary Policy Committee agreed with this as seven voted for a 0.5% rise and two wanted no increase. This reflects the uncertainty around the economy such as when inflation will come back down to more palatable levels, and when and if we are going into a recession.”
“Mortgage borrowers on trackers and those with fixed rates due to mature will once again be impacted by this rise. However, the market and lenders have priced this rise in so product rates should remain steady and have been coming down this year.”
