Economy
Households hit with £1bn in repayments if interest rates rose by 0.25%
At present the Bank of England’s base rate is 0.1%. According to Mazars, if rates rose by just 0.25%, these annual interest payments would increase to £18.2bn almost overnight
UK households would be hit by an “immediate increase” in interest payments of £976m if interest rates were to rise by just 0.25%, according to international audit, tax and advisory firm Mazars.
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