Property price chat, Tube delays, torrential rain – this morning doled out a full house of London bingo. And then the Bank of England said ‘hold my £8.50 beer’.
Interest rates have risen by 0.75 percentage points to 3 per cent, their highest level since October 2008 and the largest single hike in more than 30 years. That was November 1989, when rates climbed from 13.75 per cent to 14.875 per cent – a reminder that today’s rates remain low by historical standards.
