Back
Base rate comment from Simon Webb at LiveMore
23 March 2023
Simon Webb, managing director of capital markets and finance at LiveMore, said: “The unexpected rise in CPI inflation in February was a contributory factor to raising base rate by 0.25% when there had been speculation earlier this week that the rate may have stayed at 4%.
“There is still economic and financial uncertainty, not just in the UK but globally. Along with at least three bank collapses so far in the US and Credit Suisse being bailed out by UBS, the markets are jittery.
“The latest rise could mean higher mortgage rates after they recently settled down but for people remortgaging now, they will see a rise in their monthly repayments.”
