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The 0.25% rate rise will only generate a smidgen of extra income for savers. The average cash savings of over 55's is £47k. The rate rise if fully passed on, will give them less than £10 per month addititional monthly income, gross.

Many hundreds of thousands on very tight budgets, would eventually go bankrupt or lose their homes. No one would win from that, not even savers or schadenfreuders "they shouldn't have borrowed so much". The BoE will not allow that to happen. These are minute interest rate rises to gently get...

Under Lawson in 1989 base rates rocketed to 15%, to brutally end the house price boom, which Lawson exacerbated by stupidly giving advance warning of the end of multiple MIRAS relief per property. In 1992 Major and Lawson were foolishly trying to beat the currency markets by attempting to have...