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Chancellor: Rate hike will cause worry for families
Video Credit: ODN
Published on August 3, 2023 - Duration: 00:39s
Chancellor: Rate hike will cause worry for families
Jeremy Hunt acknowledged that the Bank of England’s decision to increase interest rates by 0.25% will cause worry for families paying mortgages and businesses with loans.
The chancellor however said that underpinning the decision was a “forecast that says that this time next year, inflation will be 2.8% and we will have avoided recession.” Report by Covellm.
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